The Audit Court of the EU published its annual Report for the 2003 financial year on 16 November. The Report emphasizes for the tenth consecutive year the substantial correspondence of the consolidated balance sheets of EU institutions with their declared and certified debits and credits. The Court gives a positive evaluation in the sectors of financial commitments, the management of the EU’s own resources, administrative expenditures and the European Development Fund. On the other hand, the Court has expressed doubts and made criticisms with regard to the “regularity of some operations”, mainly in the field of the Common Agricultural Policy (CAP) and Structural Funds (SF). The recommendations made by the Court to the Commission urge improvements in the system of controls on payments and a boosting of operations for the recovery of unspent or misappropriated funds from national and regional authorities (that administer 80% of EU resources). The Report also stigmatises some squandering of money on the internal running of EU institutions. For further information, consult the website www.eca.eu.int
