UK seeks less detailed auditing of EU programmes

UK seeks less detailed auditing of EU programmes

Britain prefers a system of 'benefit-cost audits rather than transaction-tracing audits'

The British government is opposing widespread individual transaction checks
within European Union (EU) funded programmes, by the EU’s Court of Auditors.

The comments have come as the European Commission is pressing for member
states to release more detail about EU-funded programmes that are managed
nationally, such as agricultural subsidies.

Britain, however, appears to want less detailed checks, not more. In comments
on the most recent Court of Auditors annual report (for the EU’s 2004 accounts),
the UK government has proposed that EU audits be ‘more as system and
benefit-cost audits rather than transaction-tracing audits’.

It continued: ‘Transaction tracing audits bring up specific timed errors,
often of minor amounts, which when extrapolated can make it look as though the
whole programme is in error. These errors are also often corrected later…’

France has similar criticisms, although it avoids recommending a solution,
saying of the Court’s sampling methods: ‘General conclusions are drawn from
findings relating to a very limited number of isolated operations, many of which
involve very small amounts’.

And Germany questioned the cost-effectiveness of EU spending assessments,
period. It proposes an audit of the audits: ‘The cost of management and control
systems in member states should be assessed by the [European] Commission to
ensure that cost is proportionate to the results obtained.’

Denmark called for more cooperation between the Court and national supreme
audit institutions, a line supported by the EU financial watchdog itself, which
agreed there should be an ‘appropriate balance between costs and benefits’ in
statements of assurance.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

2m Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

2m Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y Accountancy Age

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

2m Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article