Posts Tagged ‘Audit’

Pope signs new statutes for Vatican bank reforms

Monday, August 12th, 2019

Pope Francis’s reforms to the Vatican Bank and attempts to restore its ethical credentials include new statutes. On Saturday Francis signed the new statutes and approved other changes to bolster the reforms that have cleaned out the once scandal-ridden institution. The reforms were initially launched by Francis’s predecessor Pope Benedict. Until Benedict and Francis sought Read more

Pell says full financial reform of Vatican will take time

Tuesday, June 21st, 2016

Cardinal George Pell says the “full implementation” of financial reforms at the Vatican will take time. Cardinal Pell gave a statement to The Tablet in the wake of the Holy See announcing that a full audit by PricewaterhouseCoopers would not take place. Instead, PwC will assist an internal auditor-general with the work. The cardinal is Read more

Vatican cancels first full external audit of its finances

Tuesday, June 14th, 2016

The Vatican has cancelled the first full external audit of its finances, which was to have been done by a global accounting firm. The Vatican announced last week that PricewaterhouseCoopers (PwC) would no longer be responsible for the audit. Instead it will be performed by the Holy See’s Auditor General. In a statement, the Vatican Read more

Pell intends to be Vatican finance chief until 2019

Friday, May 6th, 2016

Cardinal George Pell has pledged to serve his full five-year term as prefect of the Vatican’s Secretariat for the Economy. Although he turns 75 next month, the cardinal plans to continue in his current post until 2019. This was confirmed in a statement his office released late last month. A Crux article reported that, according to Read more

Francis orders Vatican audit including Sistine Chapel

Tuesday, December 8th, 2015

Pope Francis has ordered an unprecedented external audit of the Vatican’s wealth, including St Peter’s Basilica and the Sistine Chapel. The audit will look at financial investments, real estate and cultural assets. It will be performed by Price Waterhouse Coopers and will start immediately, said Vatican spokesman Fr Federico Lombardi, SJ. Assets that would never Read more

Religious told to keep close eye on their orders’ finances

Friday, August 8th, 2014

Members of religious orders should not be ignorant of economic realities in their own communities, the Vatican has told religious. A recent circular letter from the Congregation for Institutes of Consecrated Life and Societies of Apostolic Life dealt with the use of financial resources by religious orders. Under church law, each order is required to Read more

Proposals on auditing charities revised

Tuesday, February 26th, 2013

A second discussion document from the Ministry of  Commerce sets out new proposals regarding audit and assurance requirements for large and medium-sized charities. It follows a consultation on tentative proposals last year which indicated concerns that the requirements captured too many charities and that these charities were not resourced to meet the new demands. Under the new proposals, charities Read more

Closer scrutiny of Charities proposed

Friday, April 27th, 2012

Closer scrutiny of Charities is being proposed in a discussion paper released by Commerce Minister Craig Foss. “We don’t want a few organisations damaging the reputation of all New Zealand charities,” says Foss. “Charities make a valuable contribution to society and it’s important to get the balance right. They must be transparent and accountable but not Read more