Catholic World News

Vatican offices adapting to new financial regulations

January 28, 2015

All Vatican offices are now obliged to follow new regulations governing financial transactions, the Vatican Insider notes.

Implementing the new rules, which call for a full accounting for all funds, will test the capacities of the newly established Secretariat for the Economy.

Cardinal George Pell, the prefect of the Secretariat for the Economy, released the new regulations in November, explaining that they “provide a clear framework of accountability for all those entrusted with the resources of the Church.” They replace an old system in which each Vatican office was independently responsible for its own financial dealings.

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