Pope Francis on Monday launched a sweeping reform of the Vatican’s scandal-plagued financial system by naming one of his closest advisers on reform, Australian Cardinal George Pell, to head a powerful new department that will oversee the Vatican bank and the entire economic system of the Holy See.
The new Secretariat for the Economy, with Pell acting as a unique kind of Vatican comptroller, will have “authority over all economic and administrative activities” in the Vatican, according to a statement summarizing Francis’ decree.
The changes also provide for an official who will be empowered “to conduct audits of any agency of the Holy See and Vatican City State at any time” — a remarkable degree of authority in a bureaucracy where offices are known for zealously guarding their own turf.
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