The word "audit" makes a lot of church treasurers nervous. It should not. A well-run audit is simply a verification that your records are accurate and your financial controls are working. If your records are in StewardTrack and you have been using it consistently, an audit is mostly just generating the right reports.
What Auditors Look For
Whether internal or external, financial auditors are trying to answer the same questions: Are the reported balances accurate? Is every transaction supported by documentation? Are funds being used for their stated purpose? Are there adequate controls to prevent unauthorized transactions?
How StewardTrack Helps
StewardTrack's audit trail is one of the most valuable features for audit preparation. Every transaction — and every change to a transaction — is logged with a timestamp and the user who made the change. If an auditor asks "who authorized this expense?" you can show them exactly who entered it, when, and whether it was subsequently modified.
The comprehensive transaction history means you can generate a complete record of all income and expenses for any time period in minutes. No more reconstructing records from receipt boxes and handwritten notes.
Step-by-Step Audit Preparation
- Reconcile all treasury accounts against the most recent bank statements
- Run the full-year income and expense report and verify it matches your bank account activity
- Ensure all expense transactions have corresponding receipts on file
- Verify all ministry fund balances are consistent with the funding they received and disbursements made
- Review the audit trail for any unusual patterns — transactions deleted, large amounts entered and then modified
- Prepare a list of all signatories on each bank account and verify they are current
Post-Audit Best Practices
Whatever the auditor finds — whether it is small process improvements or more significant issues — document the recommendations and assign responsibility for addressing each one. An audit is only valuable if the findings lead to actual changes.
