Court of Auditors
Set up in Luxembourg in 1977 to audit the EU finances. Composed of one member from each member state and appointed by a qualified majority already under the Lisbon Treaty. The rules can now be found in Article 285 - 287 TFEU.
The Court publishes a substantial report, which has made increasingly stronger complaints about fraud and mal-administration within the EU. Since 1994, the Court of Auditors has refused to accept the validity of the underlying transactions in EU.
In 2008, the Court of Auditors gave the first approval of the accounts – but making the same criticisms as before.
Commission bookkeeping has also been criticised by the auditors and by whistle-blower Marta Andreasen. She was head of the Commission's accounts department and was fired after her criticism of the bookkeeping system.
LinksSee Andreasen regarding the EU accounts and Censure and Buitenen regarding the events leading to the fall of the EU Commission on the 15th March 1999.