Vatican suspends PwC audit

PricewaterhouseCoopers audit of the Vatican finances has been halted amid questions about whether proper procedures were followed in granting the contract.

The Vatican has suspended an audit of its finances by PricewaterhouseCoopers, a decision sources said was taken to determine if there were irregularities in the contract.

Vatican sources said on Thursday that the Secretariat of State, the top department in the Vatican bureaucracy, sent letters last week to all departments informing them of the suspension.

At issue is whether proper procedures were followed when the contract, reportedly worth $US3 million ($A3.9 million), was signed by the Secretariat of the Economy, the department headed by Australian Cardinal George Pell, they said.

They said the decision was an internal matter, and not a reflection on PwC or its work.

Spokesman Father Federico Lombardi confirmed on Thursday that the audit had been suspended, adding only that the Vatican wanted "to be able to make greater checks into certain aspects" of the arrangement.

A statement from Pell's office said the cardinal was "surprised" by the letters, but "anticipates that, after discussions and clarification of some issues, the work of PwC will resume shortly".

Since the election of Pope Francis in March 2013, the Vatican has enacted major reforms to bring it into line with international accounting standards.

Pell's defenders say he is forging ahead with transparency at the Vatican after decades of murky finances, while his critics have accused him of doing so in a bullying manner.


Share
2 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world