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Holy See Offers Clarifications on Suspension of Audit

Contract with PricewaterhouseCoopers being re-examined

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The Holy See today released a statement on the suspension of the financial audit that was announced some days ago.
According to the statement, there were issues regarding the «meaning and scope of certain clauses of the contract» with the auditors, which are now to «undergo the necessary examination.»
Here is the full text of the statement:
Statement of the Holy See Press Office re: Auditing Firm
With regard to the contract with the auditing firm PricewaterhouseCoopers (PwC), it would appear opportune to offer the following clarifications. The suspension of auditing activities is not due to considerations linked to the integrity or quality of the work initiated by PwC, let alone the intention of one or more entities of the Holy See to block the reforms in progress. However, issues have emerged regarding the meaning and scope of certain clauses of the contract and their methods of implementation. Such elements will undergo the necessary examination. The decision to proceed in this way was taken after suitable consultations between the competent bodies and experts in the field. It is hoped that this phase of reflection and study may take place in an atmosphere of serenity and collaboration. The commitment to adequate economic and financial auditing remains a priority for the Holy See and for Vatican City State.

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