Archive for April 22nd, 2016
Pulling the plug on audit means gut-check for Vatican reform / Cruxnow.com
Posted by Voice of the Faithful in Catholic Church Finances, Vatican, Voice of the Faithful on April 22, 2016
When Pope Francis’ landmark project of financial reform was announced two years ago, one lynch-pin was the idea that the world would no longer just to have to take the Vatican’s word for it in terms of how much money it has and where it’s going.
“Instead there would be a credible audit carried out according to generally accepted business standards in the 21st century. That step, officials said, would represent a revolution in the direction of transparency and accountability.
As it turns out, it’s now a revolution delayed.
Crux has learned that on April 12, Italian Archbishop Giovanni Angelo Becciu sent a letter to all Vatican entities informing them that an audit being performed by the global firm Pricewaterhouse Coopers (PwC) has been ‘suspended immediately,’ and that any letters of authorization those entities have already issued to permit the transmission of financial data to PwC are to be revoked.”
By John L. Allen, Jr., Cruxnow.com — Click here to read the rest of this article.