VATICAN CITY - As the restructuring of Vatican financial institutions moves into high gear, "our ambition is to become something of a model of financial management rather than a cause for occasional scandal," said Cardinal George Pell, prefect of the Vatican Secretariat for the Economy.

VATICAN CITY - Preparing for big changes in its governance and structure, the Institute for the Works of Religion, commonly known as the Vatican bank, published its 2013 financial statement, reporting a nose dive in net profit.