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EU accounts signed off again

Alyn Smith, SNP Member of the European Parliament, today welcomed that the European Court of Auditors signed off the EU’s accounts. The auditors have done so every year since 2007 and they concluded that: 

“[the] 2014 accounts present fairly, in all material respects, the financial position of the EU and its results for the year.”

The administration of the EU was once again given a clean bill of health as the auditors concluded that the accounts of the principal bodies of the EU including the Council, Commission, Parliament, the Court of Justice and the European External Action Service were unaffected by material error.

Alyn said:

 “This is welcome news once again.

 “No doubt a number of misinformed headlines will appear amongst the usual suspects but this report clearly shows the lengths that the EU will go to in order to ensure money is well spent.

 “This report is a detailed analysis of errors that occur in EU spending across the board, from Brussels to local councils in Scotland. The error rate, which does not mean fraud, was down to 4.4%.

 “Errors can be minor breaches of procurement rules, failures to comply with rules on publicity, or incorrect incorporation of EU directives into national law. This means entirely useful and successful projects can be counted within the error rate.

 “Clearly we can’t sit back and in the European Parliament we will continue to scrutinise spending as closely as possible. The aim must always be to lower to the error rate but for this there must be improvements from both the EU and Member State Governments.”


Additional Information

Various FAQs are answered in a guide by the ECA available here

The full report can be viewed here.