EU FINANCIAL REGS

Keith NuthallTHE EUROPEAN Union Council of Ministers has approved a root-and-branch reform of the European Union's Financial Regulation, its accounting bible, which is designed to make the budgetary management of the EU more simple and efficient. The new system comes into force on January 1, 2003. It will, for instance not only permit cash accounting, but also integrated accrual accounting.Said a European Commission statement: "All rules and procedures for the implementation and discharge of the budget have been rationalised and modernised, and financial ...


Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.