Pope authorizes full audit of Vatican assets
December 01, 2015
Pushing forward with his effort to make the Vatican’s financial affairs fully transparent, Pope Francis has ordered a full audit of all the Vatican’s economic assets.
A new working group, including representatives of the Secretariat of State and the Vatican Bank as well as the Secretariat for the Economy, has been set up to evaluate all the Vatican’s resources and assess how they can best be used to serve the Church and help the poor. The working group held its first meeting last week.
The audit represents a victory for Cardinal George Pell, the prefect of the Secretariat for the Economy, who has pushed for a full disclosure of Vatican assets. Cardinal Pell himself estimated those assets—including real-estate holdings and artworks as well as financial investments-- at over $3 billion. But there have been frequent complaints that the assets are undervalued.
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