EU accounts still a mess, MPs say

Despite being responsible for £70bn worth of EU taxpayers’ money, EU accounting is still inadequate, a report by the Public Accounts Committee (PAC) has concluded.

Link: Push for greater EU accounting transparency

The MPs today submitted a report that criticised the high level of fraud thought to exist within the EU’s arrangements, saying that the level of fraud itself remains impossible to calculate.

The EU’s accounts have not secured a clean bill of health from the European Court of Auditors for 10 years.

Edward Leigh, the chairman of the PAC, says this is not good enough: ‘The task of achieving strong audit and accountability arrangements in the European Union is one Sisyphus himself, endlessly pushing his huge stone to the top of the mountain, would not envy. Little has changed because of institutional inertia.’

The UK should use its presidency of the European Union, in the second half of this year, to push for improvements in accountability, he added.

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