The church audit report has some interesting language. Cantwell said "In all material respects, Contributions received and expenditures made, and assets of the church, in the year 2012, Have been recorded and administered, IN ACCORDANCE WITH APPROPRIATE ACCOUNTING PRACTICES, approved budgets, and CHURCH POLICIES AND PROCEDURES"


From what I understand he should say "in accordance with GENERALLY ACCEPTED ACCOUNTING PRINCIPLES"
So in other words, we play on words so we can play around with our numbers.

the fox is guarding the henhouse

They don't have to use GAAP since they aren't a publicly traded company. The auditor's report is useless. All it says is that the top 15 spent the money according to rules that they made up.

When the mormon fraud was made clear to me, I was talking with a friend of mine about the money they took in and spent.

He remarked that the church is audited every year to prevent any over spending.

I stared blankly at him and duly informed him that the mormon church's books are 100% CLOSED and the audit report that he was referring to was an IN HOUSE audit.

Dave is right.

The henhouse is guarded by a fox.

This is so beyond messed up. "14 million" members....why doesn't the membership ask, hey, where does our contributions (tithing and fast offerings) go? To be okay with an in house audit you have trust that they are being honest and you would still want a report. They are not sacred and therefore secret. Seriously, if they were donating their money to any other org. they would want to know where it is going, why not TSCC? Maybe if get the members to start a letter writing campaign...worked for the women to be able to pray at conference, maybe in another 30-50 years the church will have to release it's financials.

TRANSLATION:


"We officially obey the rules that we decide to make up."

My home page this morning had an article about '10 Malls That Changed America' or some such, and without mentioning TSCC, the blurb about City Creek said it cost $1.5 billion. Some of that creative accounting?

Bwaaaaaaa! Those geeks in the church number dungeons are too busy making love to their TI-85s to bother including the most damning Stat of them all: number/percentage of ACTIVE adult members.