| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/12/1174 (6.11.12) |
| Publication Date | 06/11/2012 |
| Content Type | News |
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The European Court of Auditors’ annual report on the implementation of the EU budget and the European Development Funds for the 2011 financial year was issued on the 5 November 2012. The objective of the annual reports is to provide findings and conclusions that help the European Parliament, Council and citizens to assess the quality of EU financial management, and to make useful recommendations for improvement. Central to the 2011 annual reports are the 18th annual statements of assurance (or ‘DAS’) on the reliability of the EU accounts and the regularity of the transaction underlying them. In its response the European Commission said that the overwhelming majority of payments made from the EU budget in 2011 were free from quantifiable error. In its annual report, the European Court of Auditors confirmed that, in 2011, the overall quantified error rate for EU spending remained stable, at below 4%. With regard to the EU's account keeping, it has been given a clean bill of health by the Court of Auditors for the fifth year in a row. Critics said the report showed the EU's wastefulness, at a time when it was arguing for a budget increase. |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-12-1174_en.htm |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
