GC45 AUD01 Audit Committee Recommendations for Summer 2025

Origin: Audit Committee

1. What is the issue?

This a routine 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 23, 2025, to conduct its duties.  In addition to receiving financial management and risk related briefings on a variety of topics, they

• received management’s report highlighting key year-over-year changes in financial balances – including subsequent event note related to the restructure of the United Property Resource Corp and Kindred Works Inc.
• received the report from KPMG, the Church's external auditor,
• considered the audited financial statements prepared by management, and
• recommended the financial statements for final approval by the 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 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 9, 2025.

The signed financial statements will be filed with the Canada Revenue Agency, and both the statements and note disclosures will be posted on the United Church website.

3. How might the General Council respond to the issue?

The Audit Committee recommends that the 45th General Council:

1. receive the report of the Audit Committee (appended);
2. receive the 2024 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 2025 year.