An annual audit is a canonical requirement of The Episcopal Church. Completed audits must be approved by your vestry and returned to the diocese no later than September 30 of the following year.
Overview of Audit Process and Requirements
The Diocesan Council of the Diocese of Newark has approved the use of a standard Audit Checklist to be used by Parish Audit Committees for all audits that are submitted. Congregations that currently have audits performed by independent CPAs are urged to continue with having audits performed by CPAs. Audits that are performed by Parish Audit Committees as outlined in the Requirements for Annual Financial Audits are to follow the guidelines that are provided by the Diocese of Newark.
A PDF file of the Guidelines for Financial Audits is included, as well as Word documents that are to be used to document the audit.
Auditor Training
At least one member of the Audit Committee conducting a Committee Audit must be qualified by the CFO as “audit trained.” Any individual licensed as a CPA or CMA is automatically qualified. All others must undergo diocesan training, either in person at a seminar or by watching a training video found here.
If you qualify due to CPA or CMA certification, please send Randy Johnson your name, your congregation name and town, and your certification.
List of Documents to be Submitted at Conclusion of Audit
When the audit has been completed, please send all the documents as specified in the List of Documents to be Submitted to:
Chief Financial Officer
The Episcopal Diocese of Newark
31 Mulberry Street
Newark, NJ 07102
The audit will not be considered complete until all the documents have been received.
