EU FINANCIAL WATCHDOG CALLS FOR STRONGER COMPLIANCE-BASED APPROACH OVER EU SPENDING
November 1st, 2014
The European Union’s (EU) financial watchdog the Court of Auditors today (Wed 5/11) revealed the EU’s 2013 accounts were adrift by Euro EUR7 billion and urged a radically different approach to future spending to pinpoint fraud and mismanagement. Its assessment advised that: “Compliance and performance should be given equal weight.”Formerly priority was given to spending EU budgets on a “use it or lose it” principle. “From now on there has to be more careful and control of EU funds over long-term forecasts,” ECA president Vitor Caldeira told ...
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