Credex Assurance performs financial statement audits, reviews, and compilations for churches, faith based organizations, and other nonprofits. It is a dedicated practice group inside Credex Advisors LLC, a licensed CPA firm, and nonprofit financial statements are the only work the group does. No tax returns, no bookkeeping, no consulting on the side. Every engagement is led by a CPA, priced as a fixed fee in the engagement letter before work begins, and delivered by people who already know how a church works: designated gifts, building funds, housing allowances, volunteer treasurers, and the questions a finance committee will ask. Sound stewardship, put on the record, without spending on accounting what was given for ministry.
Whoever is asking for the statements usually decides. Read your loan covenant, denominational requirement, or grant agreement and send it to us; we will confirm the level in writing. If no one is asking, a review or compilation is usually the right starting point.
They differ in how much the CPA does, what the CPA's report says, and what each asks of your church. In a compilation we put your numbers into proper financial statements with notes and express no assurance; it is the fastest and least expensive, and it does not test anything. In a review we ask questions and analyze the numbers for anything that looks wrong, and report limited assurance; we still do not test transactions or contact your bank. In an audit we test transactions, confirm cash and debt directly with your banks, trace designated gifts to donor intent, evaluate internal controls, and express an opinion that the statements are fairly presented; it is the only level that gives your lender, denomination, or board an opinion. Cost, time, and the amount of your staff's involvement rise in that order.
It depends on the church, so we do not publish a rate card. We quote a fixed fee after one scope call, based on the organization's size, the number of funds and accounts, the condition of the books, and whether it is a first year or repeat engagement. The fee is written into the engagement letter and does not change unless the scope does, so the finance committee can budget it with confidence. You are paying a practice that already knows how a church works, not an hourly staff learning it on your engagement.
Compilations are delivered in business days once the trial balance is final. Reviews and audits are scheduled around your year end close: fieldwork starts when the books are closed, and the report date is set in the engagement letter. A first year audit takes longer than a repeat audit because we build the permanent file.
No. Many churches keep cash or modified cash books. The statements can be presented on that basis, or the books can be converted to accrual for GAAP statements. We will tell you which your lender or denomination expects.
One request list, sent before fieldwork. Bank and investment statements, the general ledger, contribution records, payroll reports, debt agreements, leases, board minutes, and the prior year's statements if any exist. Most organizations gather everything in a week or two.
Yes, with safeguards. Preparing the statements and notes is part of every compilation. For reviews and audits we can draft them provided management reviews and takes responsibility for them, as the AICPA independence rules require. We will not keep your books or act as management.
Less than they expect. We send one request list, we accept exports from your accounting and giving software, and we hold questions until we have a batch. For a compilation the treasurer's job is a closed trial balance. For an audit, plan on a few hours gathering documents, a few hours answering questions across fieldwork, and the board presentation.
Yes. Send us the requirement and we will confirm which level satisfies it, schedule the report date to meet the deadline, and prepare the statements and notes in the form the reviewer expects. We do not act as management or design your controls, so independence is preserved for audits and reviews.
Yes. We send the request list to your bookkeeper directly and keep you copied on status. If your books need to be converted from cash to accrual before fieldwork, we coordinate that with them.
A licensed CPA firm headquartered in Atlanta, GA, founded in 2023 to do accounting work a new way: software does the tracing, CPAs do the judgment. Credex Assurance is the firm's nonprofit assurance practice. It has its own team and its own engagements, and nonprofit financial statements are all it does.
Yes. Headquartered in Atlanta, GA, with operations across the US. Fieldwork is performed remotely, so location is not a constraint.
One form, one email. Send the basics and we will schedule a short introductory and scoping call with people who understand your world. A fixed fee proposal follows the call, not a rate card.