Nick Miller
Europe Correspondent
On Monday the Pope issued an "apostolic letter" setting up a new Secretariat for the Economy in the Curia.
The secretariat will report directly to the Pope, and will supervise the administrative and financial activities of the Curia and of Vatican City State.
It will prepare the annual budgets for the Holy See and Vatican State, and implement policies determined by a new Council for the Economy including eight cardinals or bishops from around the world, and seven lay experts "of different nationalities with strong professional financial experience".
An Auditor-General position has also been created, with the power to conduct audits on any agency of the Holy See.
The changes are intended to simplify and consolidate management at the Vatican, and "improve co-ordination and oversight", said a communique from the Holy See Press Office.
They "will ensure better use of resources, improving the support available for various programs, particularly our works with the poor".
Cardinal Pell will relocate to Rome to take up the role, after giving evidence at Australia's child sexual abuse royal commission.
The new role is separate and not subject to the Vatican's Secretary of State – who was replaced last year after the prior incumbent was caught up in the Vatileaks scandal.
In an interview last year, Cardinal Pell said "There need to be changes in the economic area – not just with the so-called Vatican Bank – but more generally there is work there to be done [and] a need to ensure that things are being properly done."
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