I've found the blog post linked below, by the former GMC CFO and Dakotas Treasurer Jeff Pospisil, helpful. In short, a full audit is not required.
https://jctaccounting.com/2021/01/15/finance-the-audit/

Join Sandra Fowler once again for more great information on tax, payroll, and employee classification information aimed at churches. She is a tremendous resource! Thank you Sandra! The slides from her presentation are found here:

Slides from Sandra's Presentation: