The Tennessee Baptist Foundation is a member of the ECFA (Evangelical Council for Financial Accountability). The ECFA requires member organizations to follow their Seven Standards of Responsible Stewardship . One of these standards, Standard #3 – Financial Oversight, states:
Each member shall prepare complete and accurate financial statements. The board or a committee consisting of a majority of independent members shall approve the engagement of an independent certified public accountant, review the annual financial statements and maintain appropriate communication with the independent certified public accountant. The board shall be apprised of any material weaknesses in internal control or other significant risks.
Therefore, as an active ECFA member, the Tennessee Baptist Foundation is audited annually by an outside independent CPA firm. To view the most recent audited financial statements and supplementary information audited by Crosslin & Associates CPA’s, Nashville, TN, click on , Audit Report Oct 31 2019.