COURT OF AUDITORS AGAIN REFUSES POSITIVE ASSURANCE ON EU BUDGET

BY KEITH NUTHALL and DAVID HAWORTH, in Brussels THE EUROPEAN Union's (EU) financial watchdog, the Court of Auditors, has for the 12th year running refused to give EU accounts a complete positive assurance. The court said much EU spending in 2005 had not involved proper invoices, correctly paid bills and the selection of best value suppliers. Indeed, using random sampling methods, it found errors, from delayed payments and incomplete documentation to outright fraud in transactions affecting 66% of the Euro 115 billion EU budget. However overstated assets were ...


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