The news headlines occasionally report incidents where parish or diocesan funds have been mismanaged. Parishioners may wonder if there is any accountability or if there are any standards for financial management within their parish or diocese.
The Diocesan Fiscal Management Conference has developed an excellent set of “Standards for Ethical Behavior & Professional Conduct.” All Catholic parishes and dioceses are encouraged to meet these standards.
The standards, values, and principles go beyond what is found in financial documents in the secular world. Not only are integrity and honesty valued, but the document also adds, “We recognize the power of prayer and the need to pray for strength, wisdom and holiness.”
Similarly, not only does the document state the need to follow GAAP (Generally Acceptable Accounting Principles) in accounting and financial reporting, but it also states the importance of seeking “ways to make financial information and reports more understandable to those not trained in fiscal matters.”
The document brings together good financial practices with appropriate Catholic teaching.
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Posted by APWeb 
