US accountants Ernst&Young to audit Vatican finances

VATICAN CITY
The Economic Times

VATICAN CITY: US accountancy giant Ernst&Young will carry out an audit of the internal finances of the Vatican City — the smallest sovereign state in the world, the Vatican said in a statement on Monday.

The audit was agreed as part of a overhaul of the financial and administrative structure of the Vatican initiated by Pope Francis following his election in March.

A US consulting firm, Promontory Financial Group, has already been called upon to audit the 19,000 accounts at the Vatican bank, ..

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