Every democratic parliamentary and governmental system has its checks and balances. In the EU, the level of scrutiny is very weak:
In early 2003, the EU Parliament’s Budgetary Control Committee was very critical of the EU Commission's book-keeping, which had also been criticised by the Court of Auditors for several years. But the accounts were finally approved (discharged).
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See also Andreasen, Buitenen and Censure.