Audit questions

In preparation for audits, I've selected and reviewed unit expenses. I have checked off most but have some questions that I’d like some help on.

A fast offering expense for a partial “installment” rental payment shows the amount applied but also shows that there was a small amount of change returned. How should I handle this?

Another FO expense was recorded as being paid to the RS President for the FO recipient (not unexpected) however rather than the Food Lion receipt being for food, it was for a $100 gift card. How should this be addressed?

Thanks in advance

wrigjef wrote: Sat Jul 30, 2022 6:23 amA fast offering expense for a partial “installment” rental payment shows the amount applied but also shows that there was a small amount of change returned. How should I handle this?

That seems a bit strange. I'd ask them why there was change. If the payment was more than was due then they should have deposited the remainder back. They should be able to identify the returned amount as a donation to FO (and it shouldn't be credited to the recipient). If it was some other credit unrelated to that specific payment then it may not be relevant for your purposes. You'll have to use your best judgement to see if they handled it in an appropriate manner once you know the details.

wrigjef wrote: Sat Jul 30, 2022 6:23 amAnother FO expense was recorded as being paid to the RS President for the FO recipient (not unexpected) however rather than the Food Lion receipt being for food, it was for a $100 gift card. How should this be addressed?

I would ask your audit committee for guidance. If they haven't already talked to the Assistant Area Auditor about that kind of situation then they should probably consult him as well. Our AAA informed us that gift cards should be treated like cash. So we would expect them to get receipts for all expenses put on the gift card. If the gift card was given to the recipient then we consider it the same as making a payment directly to the recipient. If your stake has previously received the same guidance and it's been passed on to the wards, then this would probably be an exception. If you get the same guidance and but the wards haven't been informed, then you would probably make it a training moment but not write up an exception. But again, follow the guidance from your audit committee and AAA.