CORPORATE GOVERNANCE IN RELIGIOUS ORGANIZATIONS: A STUDY OF CURRENT PRACTICES IN THE LOCAL CHURCH

Academy of Accounting and Financial Studies Journal,  January, 2007  by O'Callaghan, Susanne; Walker, John P; Elson, Raymond J

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ABSTRACT

This paper addresses corporate governance practices in religious organizations by examining fiscal oversight and financial management practices in the local church. Fiscal oversight includes the existence of an independent board of directors with a financial expert and documented policies and procedures. Financial management includes the existence and use of a budget, controls over cash receipts and disbursements, financial reporting and tax reporting and compliance. A questionnaire was used to collect data from various denominations. The results showed that churches do have adequate ...

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