o The Court's audit opinions on the EU accounts and the transactions underlying these accounts are similar to previous years. The estimated error rates in some spending, notably that previously covered under the headings "internal policies" and "external actions", have fallen - however not enough to affect the overall picture.
o The accounts in general give a fair presentation, in all material respects, of the EU's financial position and results. The qualifications expressed in last year's annual report on the 2006 accounts are, due to the improvements that have taken place, no longer necessary for 2007.
o The Court gives unqualified (clean) opinions on the legality and regularity in certain areas, such as the Union's administration. However, for most spending areas the Court cannot provide a clean opinion. Although most of the payments the Court checks are made in compliance with the rules, the Court still finds that payments made to final beneficiaries, such as farmers and project promoters running EU-funded projects, have a too high level of error. Except for cohesion policies, the level of error in these policy area groups is in between 2 % and 5%.
o The result does not imply that cases of non-compliance are the result of fraud, nor that most transactions in these areas are illegal and/or irregular.