GC44 AUD02 Audit Committee Recommendations for October 2023

1. What is the issue? 

This an annual task to meet compliance and reporting requirements. 

2. Why is this important? 

Among the duties of the Audit Committee of the General Council is to review the annual financial statements and the reports from the auditors, as well as recommending approval of the financial statements to the appropriate governance bodies. 

The Audit Committee met on May 29, 2023 and June 8, 2023 and 

• received the report from KPMG LLP, the Church's external auditors, 
• considered the audited financial statements prepared by management, and 
• recommended the financial statements for final approval by the Sub-Executive of the General Council. 

Since 2017, as a streamlining measure, the Church’s external auditor conducts a program audit of KAIROS to meet compliance and funder requirements, and KAIROS results are consolidated in the one statement as are other United Church programs. On the recommendation of the Audit Committee, the Sub-Executive of the General Council approved the statements of the National Accounts of The United Church of Canada, which included KAIROS: Canadian Ecumenical Justice Initiatives on June 8, 2023. 

3. Recommendations 

The Audit Committee recommends 

That the 44th General Council: 

1. receive the report of the Audit Committee (appended); 
2. receive the 2022 audited financial statements of the National Accounts of The United Church of Canada which include KAIROS: Canadian Ecumenical Justice Initiatives (statement appended); and 
3. approve the appointment of KPMG as the Auditors for the National Accounts of The United Church of Canada fund for the 2023 fiscal year.