Vatican bank chief says international auditors check books
Releasing accounting info part of 3-pillar transparency strategy01 October, 14:11
The president of the Vatican bank, the Institute for Religious Works (IOR), spoke after the IOR's first ever annual report posted Tuesday on the bank's new website, as part of sweeping reforms to increase transparency and compliance with international standards.
''We have gone a long way on transparency and compliance,'' said Ernst von Freyberg von Fryberg.
''IOR accounts have been (independently) checked for a long time, always by respectable international auditing companies. In 2013 they were checked by KPMG,'' von Fryberg continued.
''This in itself is not unusual for the institute. It is unusual, instead, for (the IOR) to be ready to publish everything,'' von Fryberg added.
The Holy See's banking chief added that publishing the annual report for the first time is part of a three-pillar strategy the IOR launched last March, at the beginning of Pope Francis's pontificate - talk to the press on a regular basis, which required the creation of a media relations office; establish an IOR website as a conduit for disclosure; and publish annual reports.