Diocese of Orange Chief Financial Officer Elizabeth Jensen has been appointed as the new chair of the United States Conference of Catholic Bishops Accounting Practices Committee.
The committee is comprised of leading finance and accounting experts that help guide accounting practices and financial reporting for the Catholic dioceses in the United States.
The Accounting Practices Committee is a lay-committee that falls under the purview of the U.S. Conference of Catholic Bishops’ Committee on Budget and Finance. Its members are diocesan CFOs and financial advisors. Established in 1976, the committee represents the interest of the entities of the Catholic Church in the formulation of accounting principles and reporting practices and in presenting the same before professional standard setting groups and governmental bodies when necessary.
According to Joyce Jones, CFO of the USCCB, “Jensen was invited by the USCCB General Secretary to join the Accounting Practices Committee in July 2018. She was known to many of the existing members as an excellent accountant with dynamic leadership skills. Those two attributes – excellent accountant and dynamic leadership skills – are what made her a superb candidate to chair the committee. Her appointment became effective January 1, 2021. As a well-rounded experienced CFO, she will be looked to, to guide the committee in updating the well-used Diocesan Financial Management: A Guide to Best Practices that resides on the USCCB website.”
Of the appointment, Jensen said, “I am honored to accept the nomination as chair of the USCCB Accounting Practices Committee. I am confident that my experience in both public accounting and as the CFO of one of the largest dioceses will allow me to serve the Church in this important role and to assist dioceses in the United States in adhering to the accounting and financial reporting standards of the industry.”
Jensen began her new role January 1.