EU accounts fail 13th successive test

eu money

The European Court of Auditors has failed to give a statement of assurance on
much of the European Commission’s spending – for the 13th time.

The auditors’ report, covering the 2006 budget, cites spending
‘irregularities’ and a lack of supervision by the European Commission as reasons
for its decision. The issues are mostly with agricultural and redistibutional

According to the
the Commission has not managed to maintain effective supervision of expenditure
on major infrastructure projects, as nearly 80% of the EU’s 106bn euro (£75bn)
budget failed the auditors’ test.

This news comes despite hopes expressed by Brian Gray, the EC’s accounting
officer, in an interview with Accountancy Age that his books would be
given a clean bill of health.

The ECA’s criticisms come in the wake of EC mandarins slating member states
for audit shortcomings.

The EC has the remit for the handling of the budget, but member states are
responsible for distributing the bulk of EU spending, mostly in grants and

Further reading:

slams EC ‘mafia’

Related reading