Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Pope approves legal framework for financial reform [View all]
Source: Reuters
Pope approves legal framework for financial reform
BY PHILIP PULLELLA
VATICAN CITY Tue Mar 3, 2015 12:36pm EST
(Reuters) - Pope Francis approved detailed new plans to reform Vatican finances on Tuesday, giving the Australian cardinal leading the changes sweeping powers to monitor Vatican departments and ensure budgets conform to international accounting standards.
The statutes had been keenly awaited for signs of how much power would fall to Cardinal George Pell - an outsider Francis brought in to oversee often muddled finances and who, according to Italian media, is viewed skeptically by detractors in the Vatican bureaucracy who feel he has amassed too much power.
The changes were one of the clearest indications to date that Francis is committed to the mandate given him by cardinals who elected him in 2013 to clean up after a series of financial scandals.
The most important of three new norms is one that governs the Secretariat for the Economy, which Pell has headed since it was set up last year. The norms give Pell wide powers, including the monitoring of other Vatican departments, ensuring their budgets conform to international accounting standards and are reviewed by external auditors.
[font size=1]-snip-[/font]
BY PHILIP PULLELLA
VATICAN CITY Tue Mar 3, 2015 12:36pm EST
(Reuters) - Pope Francis approved detailed new plans to reform Vatican finances on Tuesday, giving the Australian cardinal leading the changes sweeping powers to monitor Vatican departments and ensure budgets conform to international accounting standards.
The statutes had been keenly awaited for signs of how much power would fall to Cardinal George Pell - an outsider Francis brought in to oversee often muddled finances and who, according to Italian media, is viewed skeptically by detractors in the Vatican bureaucracy who feel he has amassed too much power.
The changes were one of the clearest indications to date that Francis is committed to the mandate given him by cardinals who elected him in 2013 to clean up after a series of financial scandals.
The most important of three new norms is one that governs the Secretariat for the Economy, which Pell has headed since it was set up last year. The norms give Pell wide powers, including the monitoring of other Vatican departments, ensuring their budgets conform to international accounting standards and are reviewed by external auditors.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/2015/03/03/us-pope-finances-idUSKBN0LZ23M20150303
5 replies
= new reply since forum marked as read
= new reply since forum marked as read