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21 Nov 2007
The European Union is very sensitive to the suggestion that
its accounts have been 'qualified'.
Newspapers have to tiptoe around the issue, saying they have
'failed the test' and that the underlying transactions did not get a positive
statement of assurance.
So senior EU figures were more than a little cheesed off
this time round when the Court of Auditors, which audits the EU, itself used
Giving its formal opinion, the Court said in one document: 'With
regard to budget aid, and without further qualifying the above audit opinion,
the Court's audit revealed that the Commission's disbursement decisions do not
demonstrate in a sufficiently formal and structured manner that there is
compliance with the Cotonou Agreement.'
Ignore the EU speak and focus on the 'Q' word.
Brian Gray, the EC's chief accounting officer, told TS he
was 'irritated' by the use of the 'Q' word.
Don't you dare use it yourself when discussing the issue.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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