"Commission improves financial management of EU Budget". - Hoofdinhoud

"Commission improves financial management of EU Budget". Commissioner Lewandowski i welcomes Court of Auditors' report

"I welcome today's European Court of Auditors report which shows that the European Commission implements the Court's recommendations and keeps improving the financial management of the EU budget.

I am particularly pleased, that the improvements were found in the crucial areas of the EU budget such as cohesion policy and agriculture. I have worked hard to improve the financial management of the EU budget as well as to cut red tape for beneficiaries. The EU budget remains a vital source of public investment and this report is another confirmation that the EU manages its funds well with high value for money for EU citizens".

Background note

Today's report by the Court of Auditors concludes that "the EU Commission adequately follows up and implements a large majority of the Court's recommendations and that this has contributed towards improving the financial management in a number of areas of the EU budget.

It adds that 95% of the Court's recommendations in its 2012 annual report on the EU budget were fully or partly implemented by the Commission.

According to the Court's annual report, the error rate in the EU budget usually fluctuates between 4 and 5% whereas fraud accounts for less than 1% of all payments made.

The Court of Auditors' press release