Statutes of new Vatican economy watchdogs enter into force

Gazetta del Sud
March 3, 2015

http://www.gazzettadelsud.it/news/english/131505/Statutes-of-new-Vatican-economy-watchdogs-enter-into-force.html

the Vatican Bank

Rome, March 3 - The statutes of the Council and Secretariat for the Economy, two bodies established by Pope Francis in February 2014 to oversee Vatican finances, came into force on March 1, the Holy See said Tuesday. The two documents are published on the Vatican website, along with the statute of the Office of the Auditor General, which also entered into force on the same day. The 15-member Council for the Economy is mandated to offer "guidance on economic management and [supervise] the structures and the administrative and financial activities of the Dicasteries of the Roman Curia, of the Institutions connected to the Holy See, and of Vatican City State" according to the motu proprio document that established it. Implementation of policies established by the council is overseen by the Secretariat headed by Australian Cardinal George Pell, while all financial accounts are subject to controls by the Office of the Auditor General. Francis established the three entities amid concern over scandals surrounding the management of Vatican finances and the activities of the Institute for Religious Works (IOR), commonly referred to as the Vatican Bank.