EU AGENCIES HAVE WEAK ACCOUNTING CONTROLS SAYS COURT OF AUDITORS
July 1st, 2008 BY KEITH NUTHALL EXECUTIVE agencies of the European Union (EU) have weak accounting controls, the EU Court of Auditors has reported. Following an inquiry into auditing and bookkeeping methods followed by eight unnamed agencies of the 20 operating in 2006, the court concluded: "Monitoring tools remained fairly rudimentary in most of the agencies, and the lack of performance indicators and of activity-based budgeting/management was quite widespread." It added: "Required reports to...discharge authorities...provided little information on results ...
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