Vatican Hires International Accounting Firm to Get Books in Order

Your News Companion by Ben Mathis-Lilley
Nov. 19 2013 9:41 PM

Vatican Hires International Accounting Firm to Get Books in Order

450354287
Pope Francis meets with Bahamas Prime Minister Perry Christie at the Vatican.

Photo by GREGORIO BORGIA/AFP/Getty Images

The Vatican continued its effort to get its finances in order on Monday when it announced it had hired an international accounting firm to audit its finances. The Vatican said the firm EY, formerly known as Ernst & Young, will “‘verify and consult’ on the economic activity of the Vatican City State administration, which controls the money-making Vatican Museums, post office and tax-free department store,” the Associated Press reports.

The move to bring in EY means that three departments of the Vatican are now being reviewed by external firms. The Vatican bank and the department that oversees the Vatican’s real estate holdings and investment portfolio are also under review. The increased scrutiny comes as part of Pope Francis’ call to action since being elected earlier this year “to tackle years of financial scandals, some involving the Vatican bank, which is being reformed after years of failing to meet international standards against tax evasion and the disguising of illegal sources of income,” Reuters reports. Francis, in one of his first acts as Pope, created oversight commissions aimed at cutting waste and improving transparency of the Vatican administration.

Elliot Hannon is a writer in Washington, D.C. Follow him on Twitter.

TODAY IN SLATE

Politics

Meet the New Bosses

How the Republicans would run the Senate.

The Government Is Giving Millions of Dollars in Electric-Car Subsidies to the Wrong Drivers

Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.

Cheez-Its. Ritz. Triscuits.

Why all cracker names sound alike.

Friends Was the Last Purely Pleasurable Sitcom

The Eye

This Whimsical Driverless Car Imagines Transportation in 2059

Medical Examiner

Did America Get Fat by Drinking Diet Soda?  

A high-profile study points the finger at artificial sweeteners.

The Afghan Town With a Legitimately Good Tourism Pitch

A Futurama Writer on How the Vietnam War Shaped the Series

  News & Politics
Photography
Sept. 21 2014 11:34 PM People’s Climate March in Photos Hundreds of thousands of marchers took to the streets of NYC in the largest climate rally in history.
  Business
Business Insider
Sept. 20 2014 6:30 AM The Man Making Bill Gates Richer
  Life
Quora
Sept. 20 2014 7:27 AM How Do Plants Grow Aboard the International Space Station?
  Double X
The XX Factor
Sept. 19 2014 4:58 PM Steubenville Gets the Lifetime Treatment (And a Cheerleader Erupts Into Flames)
  Slate Plus
Tv Club
Sept. 21 2014 1:15 PM The Slate Doctor Who Podcast: Episode 5  A spoiler-filled discussion of "Time Heist."
  Arts
Television
Sept. 21 2014 9:00 PM Attractive People Being Funny While Doing Amusing and Sometimes Romantic Things Don’t dismiss it. Friends was a truly great show.
  Technology
Future Tense
Sept. 21 2014 11:38 PM “Welcome to the War of Tomorrow” How Futurama’s writers depicted asymmetrical warfare.
  Health & Science
The Good Word
Sept. 21 2014 11:44 PM Does This Name Make Me Sound High-Fat? Why it just seems so right to call a cracker “Cheez-It.”
  Sports
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.