Is this an accurate statement? I have no idea what the regulations are for the financial disclosure required of private organizations.
It's a non-profit entity. So does it provide any kind of accounting to the govt for tax purposes? (No)
Most denominations make their own numbers available to their grassroots. (The Lds church doesn't)
As for "requirement" -- I'm not even talking about "have tos." I'm talking about internal self-accountable "want tos." Does the Lds church want to give any accounting of their expenditures to at least their own members? (Beyond their general authorities, no, they don't)
See book The Mormon Corporate Empire...written in the 1980s. One of the two authors, John Heinerman, was/is Lds.
As to how they do this legally, please see How Corporatism Has Undermined and Subverted The Church of Jesus Christ...
Note this excerpt: ...in 1923, church lawyers found The Holy Grail: a rare, little known, and hardly ever used mode of incorporation known as The Corporation Sole. Virtually unknown in America, and tracing its origins to ancient Roman law, the corporation sole was the way the vast riches of the Holy Catholic Church had been protected under Emperor Constantine. All financial power was vested in one man -in their case the pope, in our case, the prophet. Or, as he was named in the corporate charter, “the President.” The word “Prophet” doesn't appear in the charter. This wasn't a real church, after all. It was just a way for the leadership of the, ahem, "Church” (wink, wink) to control the member's money. In the original LDS church from the time of Joseph Smith, all members were considered of equal worth. They were called “members” because in the ancient church the scriptures called them “members of the body of Christ.” All parts were of equal importance to the Lord. You know the words of Paul in 1st Corinthians 12: “The head cannot say to the feet, I have no need of you.” Likewise church property bought with member's tithing was considered held in common by all the members of the church, with common consent required for the purchase or disbursement of that common property. But not anymore. Under the corporation sole, the head could tell the feet to go take a hike. The president of the church could do whatever the hell he wanted with the member's money without asking permission from the members whatsoever. It's spelled out right there in the charter. The president of the corporation needs no authorization from any mere member of the Lord's church. No show of hands, no vote, no “all in favor please manifest.” Like the Pope, his power is absolute. He is the Sole Brother.