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National Audit Office report: Financial Management in the European Union

Financial Management in the European Union

“There has been some improvement in financial management of EU funds in 2006, but there are still significant challenges to achieving a positive Statement of Assurance on legality and regularity of expenditure. To reduce the level of error the Commission needs to strengthen its supervision of Structural Measures expenditure. But with some three-quarters of European expenditure managed by Member States, they too have a major role in improving the financial management of European Union funds. The United Kingdom’s forthcoming account of its own use of European Funds is a helpful development.”

“There has been some improvement in financial management of EU funds in 2006, but there are still significant challenges to achieving a positive Statement of Assurance on legality and regularity of expenditure. To reduce the level of error the Commission needs to strengthen its supervision of Structural Measures expenditure. But with some three-quarters of European expenditure managed by Member States, they too have a major role in improving the financial management of European Union funds. The United Kingdom’s forthcoming account of its own use of European Funds is a helpful development.”

Tim Burr, head of the National Audit Office

 

 

Publication details:

ISBN: 9780102944723 [Buy a hard copy of this report from TSO]

HC: 401 2006-2007

Published date: April 18, 2007