The Vatican is one of the States that accept to be examined by a Committee of Experts from European Council, to evaluate if its financial system is transparent. It is commonly referred to as Moneyval and the Holy See decided to submit itself to this review since the pontificate of Benedict XVI.
Secretary of State Card. Pietro Parolin, explained that for this reason a delegation travels to Rome frequently to carry out inspections.
CARD. PIETRO PAROLIN
Secretary of State of theVatican
“This is what the pope wants. Transparency, consistency, commitment to the correct management of the money that the faithful offer to the Church. This has to be done according to the Church's needs and the needs of the poor.”
During its visit to the Vatican institutions, the auditing committee also met with Pope Francis at the Apostolic Palace.
“Many meetings have been held. During these meetings, the Vatican delegation has tried to communicate the efforts of this unique jurisdiction.”
The pope recalled some of the latest steps taken by the Holy See to promote transparent management. For example, the law prohibiting Vatican public works from being granted to close relatives or companies that have accounts in tax havens.
He also called for a world order that is more focused on the people rather than the economy.
“This is a form of idolatry against which we are called to react, proposing again the rational order of things which leads back to the common good, according to which 'money must serve and not govern.'”
In the last review, Moneyval told the Vatican that it was surprising that internal control measures did not lead to any proceedings in its courts.
Since then, the Holy See has been spending more resources to investigate suspicious financial transactions, as it is currently doing with regard to the use of funds reserved for the Secretariat of State.