12 hours ago – VATICAN CITY (CNS) — Four months after announcing it had hired the firm PricewaterhouseCoopers to conduct an external audit of its finances …
Catholic World News
Vatican suspends external audit
April 20, 2016
A thorough audit of all Vatican offices has been suspended, in a major blow to plans for reform of Vatican financial affairs.
The Secretariat of State has informed Vatican offices that the outside audit, being conducted by the accounting firm of PricewaterhouseCoopers, was being discontinued. The audit was begun in December 2015, after Cardinal George Pell, the prefect of the Secretariat for the Economy, reported that a preliminary inqury into Vatican financial affairs had uncovered the serious undervaluation of assets, as well as unsupervised spending that created opportunities for mismanagement and corruption.
Cardinal Pell had pressed energetically for the imposition of regular audits and uniform financial controls, to bring accountability to Vatican financial affairs. His efforts have faced resistance from other offices of the Roman Curia, and the suspension of the PricewaterhouseCoopers audit appears to reflect a setback for the Australian cardinal.
The Italian newspaper Italia Oggi, which broke the news that the audit was being suspended also reported that Antonino D’Anna, who had been considered a candidate to become the new president of the Institute for Religious Works, had removed his name from consideration because of what he described as the “complex situation” at the Vatican bank. Italia Oggi interpreted D’Anna’s statement as a further indication that Cardinal Pell’s position has been weakened, and the financial reforms that he has sought to institute may be in jeopardy.
Cardinal Pell was appointed by Pope Francis in 2014 to head the newly formed Secretariat for the Economy, and given a broad mandate to bring order to Vatican financial affairs. He was appointed to serve a five-year term in that office.