Synonyms: Accounting for financial resources
Description: Audit financial accounts; examine whether revenue and expenditure have been properly and lawfully handled; check that financial management has been sound and report to appropriate institutions.
Implementation: The European Court of Auditors act as the body in charge of external auditing of the Community's general budget, of the ECSC's operational budget and of the operations financed outside the budget by contributions from the member states in connection with cooperation with developing countries associated with EEC/EU [LomÃ© Conventions]; examine whether all revenue has been received and all expenditure incurred in a lawful and regular manner and whether the financial management has been sound. The Court acts in liaison with national audit institutions or competent national departments; there is exchange of work programmes, and national bodies appoint liaison officers who met under the aegis of the Court. It has a staff of about 400. The general budget of the European Court (1994) was ECU 43.3 million.
Type Classification: D: Detailed strategies