The Court of Auditors has given last year, as it did in previous years, a clean bill of health on the EU accounts. The Court confirms these accounts faithfully reflect how the EU budget was spent. The Court also gives a separate opinion on whether all payments have been correctly processed, i.e. paid on time, the invoice properly signed, amounts paid correctly, whether the best and cheapest suppliers have been chosen, etc. The Court says it can only give positive assurance on some spending, not on the whole budget, as it has found errors in some of the payments under scrutiny.
Most of the errors found by the Court concerned EU funds under national management.
The EU test is much more rigorous than that of the private sector, where only book-keeping records are audited.
Sir John Bourn, the UK's Comptroller & Auditor, has recently confirmed that if the UK had a similar test to the European one, he might have to qualify the whole of British Central Government expenditure. In the UK some 500 accounts representing the expenditure of the British government are audited and signed off separately, with some not passing the test each year, whereas the whole of EU expenditure is subject to a single verdict.