What Did the Lord Say About the State of the Bible?
Many scriptures allude to the fact that the Bible had become corrupted through both deliberate and unintentional error, introduced by scribes and editors. This resulted in many "plain and precious" parts of the Bible being lost. Many scriptures also show how Joseph Smith was commanded to work on a New Translation of the Bible. 

1 Nephi 13:26-29  
And after they go forth by the hand of the twelve apostles of the Lamb, from the Jews unto the Gentiles, thou seest the formation of that great and abominable church, which is most abominable above all other churches; for behold, they have taken away from the gospel of the Lamb many parts which are plain and most precious; and also many covenants of the Lord have they taken away. And all this have they done that they might pervert the right ways of the Lord, that they might blind the eyes and harden the hearts of the children of men. Wherefore, thou seest that after the book hath gone forth through the hands of the great and abominable church, that there are many plain and precious things taken away from the book, which is the book of the Lamb of God. And after these plain and precious things were taken away it goeth forth unto all the nations of the Gentiles; and after it goeth forth unto all the nations of the Gentiles, yea, even across the many waters which thou hast seen with the Gentiles which have gone forth out of captivity, thou seest--because of the many plain and precious things which have been taken out of the book, which were plain unto the understanding of the children of men, according to the plainness which is in the Lamb of God—because of these things which are taken away out of the gospel of the Lamb, an exceedingly great many do stumble, yea, insomuch that Satan hath great power over them.

1 Nephi 14:23
Wherefore, the things which he shall write are just and true; and behold they are written in the book which thou beheld proceeding out of the mouth of the Jew; and at the time they proceeded out of the mouth of the Jew, or, at the time the book proceeded out of the mouth of the Jew, the things which were written were plain and pure, and most precious and easy to the understanding of all men.

Doctrine & Covenants 6:26-27 (April 1829)
Verily, verily, I say unto you, that there are records which contain much of my gospel, which have been kept back because of the wickedness of the people; And now I command you, that if you have good desires—a desire to lay up treasures for yourself in heaven--then shall you assist in bringing to light, with your gift, those parts of my scriptures which have been hidden because of iniquity.

Doctrine & Covenants 42:14-15, 56-58 (February 9 and 23, 1831)
And the Spirit shall be given unto you by the prayer of faith; and if ye receive not the Spirit ye shall not teach. And all this ye shall observe to do as I have commanded concerning your teaching, until the fulness of my scriptures is given....Thou shalt ask, and my scriptures shall be given as I have appointed, and they shall be preserved in safety; And it is expedient that thou shouldst hold thy peace concerning them, and not teach them until ye have received them in full. And I give unto you a commandment that then ye shall teach them unto all men; for they shall be taught unto all nations, kindreds, tongues and people.

Doctrine & Covenants 45:60-62 (March 7, 1831)
And now, behold, I say unto you, it shall not be given unto you to know any further concerning this chapter, until the New Testament be translated, and in it all these things shall be made known; Wherefore I give unto you that ye may now translate it, that ye may be prepared for the things to come. For verily I say unto you, that great things await you;

Doctrine & Covenants 73:3-4 (January 10, 1832)
Now, verily I say unto you my servants, Joseph Smith, Jun., and Sidney Rigdon, saith the Lord, it is expedient to translate again; And, inasmuch as it is practicable, to preach in the regions round about until conference; and after that it is expedient to continue the work of translation until it be finished.

Doctrine & Covenants 90:12-14 (March 8, 1833)
And now, verily I say unto you, I give unto you a commandment that you continue in the ministry and presidency. And when you have finished the translation of the prophets, you shall from thenceforth preside over the affairs of the church and the school;

Doctrine & Covenants 93:53 (May 6, 1833)
And, verily I say unto you, that it is my will that you should hasten to translate my scriptures, and to obtain a knowledge of history, and of countries, and of kingdoms, of laws of God and man, and all this for the salvation of Zion. Amen.

Doctrine & Covenants 94:10 (August 2, 1833)
And again, verily I say unto you, the second lot on the south shall be dedicated unto me for the building of a house unto me, for the work of the printing of the translation of my scriptures, and all things whatsoever I shall command you.

Articles of Faith 1:8
We believe the Bible to be the word of God as far as it is translated correctly; we also believe the Book of Mormon to be the word of God.