Church accounting success ”relies on followers’

Like many organisations of its kind, the Catholic Church has to keep a close eye on its church accounting to ensure everything is in order.
This sort of diligence enables it to remain operating effectively and to comply with the necessary legal requirements. Indeed, it may well have church software to help it conduct its affairs.

In principle, the establishment should not face financial strife, according to one writer.

Making his comments in the Independent, Michael Day said: “As a global religion with a billion followers, many of whom are in the richest parts of the world, the Roman Catholic Church is naturally a multi-billion-pound enterprise.”

However, its church accounting has not been in as good health as usual recently, he noted.

Mr Day pointed out that last year it had a £3.2 million deficit on a global income of nearly £200 million.

He added: “The 2009 deficit was in part attributed to a decline in the property market and the global stock market, where the Vatican has significant interests.”

But it is a possible fall in the popularity of the organisation that may damage its finances most, he claimed.

Mr Day went on to state: “Ultimately it is faith that pays the church’s bills and the organisation’s leaders know that if this dwindles too much, inquisitive magistrates and accounting regulations will be the least of their worries.”

The writer also noted that the Catholic Church is under pressure to join the White List, which is an Organisation for Economic Co-operation and Development designation for countries that apply international tax regulations and transparent accounting.

If the establishment does make the change, it may have to alter its church software.

Recently, the church was making headlines in the UK as a result of the visit by its head, Pope Benedict XVI.

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