Accounts

: The Court of Auditors produces an annual report on the accounts of the EU (Photo: blogs.phillyburbs.com)

The Court of Auditors produces an annual report on the accounts of the EU. This is presented every year on the basis of the information delivered by the EU Commission.
The EU Parliament and the Council then have to approve the accounts by "granting discharge".

Notes

When in 1998 the EU Parliament refused to grant discharge for the accounts of the budgetary year 1996 it led to the fall of the Commission on 15 March 1999.
The Court of Auditors has criticised the accounts every year since 1994. It has also criticised the bookkeeping system in the Commission.

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