Apsa Announces Supervisory Board, outside Financial Review, Vatican Radio, October 15, 2013

Apsa Announces Supervisory Board, outside Financial Review

Vatican Radio
October 15, 2013

http://en.radiovaticana.va/news/2013/10/15/apsa_announces_supervisory_board,_outside_financial_review/en1-737556

(Vatican Radio) The presidency of the Administration of the Patrimony of the Holy See (APSA) has announced a new supervisory board and a review to be conducted by an independent firm.The APSA is the office of the Roman Curia that handles the properties, real and personal, of the Holy See, in order to provide the funds necessary for the Holy See to function. Below, please find Vatican Radio's translation of the statement from the APSA

In implementation of the presented this past July to the Council of Cardinals for the Study of Organizational and Economic Problems of the Holy See in the report of the Consultors of the Administration of the Patrimony of the Apostolic See (APSA), it appeared appropriate to review the functions of Consultors themselves through the creation of a “Supervisory Board” of the APSA’s Extraordinary Section, for which the same Consultors have given their availability.

As is known, the Administration of the Patrimony of the Apostolic See - Extraordinary Section has the exclusive function of administering its own personal property and personal property entrusted to it by other agencies of the Holy See.

In addition, on October 15, the process of Due Diligence on economic and financial position of the two sections of the APSA , ordinary and extraordinary, began, headed by Promontory Financial Group. The result of the review will allow for greater depth and detail in the verification of the financial condition and management of the APSA. The initiative was launched along with the Referent Pontifical Commission for the Study and Address of the economic structure and administrative organization of the Holy See, which will have the data of the review available, so as to enable it to formulate, within scope of its mandate, appropriate proposals to promote efficiency and transparency of the same APSA.