Pope overhauls board of Vatican's financial watchdog

Pope Francis has sacked the five-man board of the Vatican's financial watchdog in the latest in a series of changes the pontiff has made to the Vatican administration.

The five members were all Italian and their terms were set to expire in 2016. Pope Francis however has chosen four replacements, including a woman, who have a background in international finance.

The Financial Information Authority is now composed of experts from the United States, Switzerland, Singapore and Italy.

The Pope has been making changes to distance the Church from a murky past, getting rid of the old guard to introduce individuals who would help bring the institution into the present.