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KPMG to advise Vatican on international accounting standards

KPMG has been brought in by the Vatican to advise it on its internal accounting procedures following a series of problems within the Holy See’s finances.

The Vatican said it had hired KPMG to “align the accounting procedures of all agencies of the Holy See with international standards”.

The appointment was made as part of a commission of inquiry set up by Pope Francis to clean up the Holy See’s finances after the Vatican suffered a series of scandals in which it was accused of corruption.

In addition, EY was brought in by the Vatican City State, the department which manages the activities of the Vatican City, to look at audit its internal finances.

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