EUROPEAN COURT OF AUDITORS CALL FOR SIMPLIFIED EU SPENDING PROCEDURES TO ROOT OUT FRAUD AND ERROR
November 2nd, 2020
THE EUROPEAN Union’s (EU) financial watchdog has stressed how the EU needs to simplify its spending systems, which would make fraud is tougher to commit and easier to detect. The EU Court of Auditors has formally issued an ‘adverse opinion’ on the audited expenditure during 2019 of the 27-country union.
This amounted to EUR159.1 billion, 2.1% of member states’ overall public spending. Where the court is particularly concerned is in the 53% of this EU pot considered ‘high risk expenditure’, where grantees are often reimbursed for earlier spending, ...
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