Church Audit Required?

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Question: 

When is it necessary for churches tohave their accounts externally audited by CPAs? Is that up to the church or isthere some regulation that requires one?
Answer: Generally, churches are not required by law to secure a periodic or annual audit opinion by an independent CPA firm.However, it may be within the church’s best interests to do so. Typically, larger churches are more able to incurr the cost of an audit.

Further, many churches that are members of the Evangelical Council for Financial Accountability (www.ECFA.org) are required to secure annual independent audits.
Keep in mind that a church’s governing documents, or a bankfrom which a church has acquired a loan may require a church to secure anaudit opinion.