Pope to Allow External Audit of Vatican Bank Accounts

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Currents News Staff

Pope Francis has implemented a bold economic reform to the Vatican’s financial entity of the Holy See, the Institute for the Works of Religion, in order to make it more transparent. From now on, by law and for the first time in its history, its accounts will be audited by an external audit.

This is an important step that follows the line taken by Emeritus Pope Benedict XVI, who to prevent money laundering in the Vatican, made the Holy See join the European Union from a monetary point of view. In this way it was obligatory to reform the system of the Institute for the Works of Religion in order to adapt it to the standards of transparency and control demanded by Brussels.