Ya know, this article, in light of the other article published pertaining to the operating budget deficit in the Vatican, REALLY makes one wonder how much of the budget deficit can be attributed to fraud and misappropriation of funds. It might be easy for one to say that "the Vatican should get a real American audit and the mess would be…
Ya know, this article, in light of the other article published pertaining to the operating budget deficit in the Vatican, REALLY makes one wonder how much of the budget deficit can be attributed to fraud and misappropriation of funds. It might be easy for one to say that "the Vatican should get a real American audit and the mess would be cleaned up," however I fear that the mismanagement is so severe that even in a public-company style audit finding sources of cash flow would be nearly impossible. An officer of an organization being able to take an envelope consisting of enough cash to be detained at customs is absolutely mind-blowing. I think the Pillar does tremendous work highlighting some serious issues in the Church but I think only a saint and a genius will be able to figure out how to make this engine run properly
An American style audit would be based on American style book-keeping, which they don't use. It wouldn't work. Maybe a group of forensic accountants with free rein to demand, receive, and dig could manage it, followed by the imposition of an American or English style of book-keeping. The trouble is, even if only a few Cardinals actually got caught with their hand in the cookie-jar, I expect a lot more are afraid that they might, because I expect that they are not currently keeping straight which cookie-jar is even theirs to use for what purposes. Many will work against the audit for that reason alone.
Yes, exactly! GAAP vs IFRS accounting aside - untangling that spider web of hands and cookie jars would be nothing short of miraculous. I truly believe the Holy Spirit will have to raise a saint to accomplish an effective reform...
Hmmmm. St. Matthew the Apostle is already the patron of accountants and bookkeepers, so the next Saint will have to be specific to forensic accountants... or sidle over to St. Jude as the patron Saint of impossible financial conundrums.
A forensic audit would be useful if given free rein etc. Whether the standard involved is GAAP or IFRS (I am familiar with both) doesn't matter that much as long as the audit is rigorous.
The last person who tried to get to the bottom of the Vatican's finances ended up being railroaded in his home country for trumped up charges of child abuse.
Ya know, this article, in light of the other article published pertaining to the operating budget deficit in the Vatican, REALLY makes one wonder how much of the budget deficit can be attributed to fraud and misappropriation of funds. It might be easy for one to say that "the Vatican should get a real American audit and the mess would be cleaned up," however I fear that the mismanagement is so severe that even in a public-company style audit finding sources of cash flow would be nearly impossible. An officer of an organization being able to take an envelope consisting of enough cash to be detained at customs is absolutely mind-blowing. I think the Pillar does tremendous work highlighting some serious issues in the Church but I think only a saint and a genius will be able to figure out how to make this engine run properly
An American style audit would be based on American style book-keeping, which they don't use. It wouldn't work. Maybe a group of forensic accountants with free rein to demand, receive, and dig could manage it, followed by the imposition of an American or English style of book-keeping. The trouble is, even if only a few Cardinals actually got caught with their hand in the cookie-jar, I expect a lot more are afraid that they might, because I expect that they are not currently keeping straight which cookie-jar is even theirs to use for what purposes. Many will work against the audit for that reason alone.
Yes, exactly! GAAP vs IFRS accounting aside - untangling that spider web of hands and cookie jars would be nothing short of miraculous. I truly believe the Holy Spirit will have to raise a saint to accomplish an effective reform...
Hmmmm. St. Matthew the Apostle is already the patron of accountants and bookkeepers, so the next Saint will have to be specific to forensic accountants... or sidle over to St. Jude as the patron Saint of impossible financial conundrums.
St. Dismas is the patron saint of thieves, he seems appropriate.
A forensic audit would be useful if given free rein etc. Whether the standard involved is GAAP or IFRS (I am familiar with both) doesn't matter that much as long as the audit is rigorous.
And if they agree not to charge the auditor with espionage
The last person who tried to get to the bottom of the Vatican's finances ended up being railroaded in his home country for trumped up charges of child abuse.