Tuesday, 5 November 2013

Happy 19th birthday Brussels!

In keeping with ancient tradition, the EU Court of Auditors has once again refused to sign off the EU accounts -

"The president of the European Court of Auditors, Vitor Caldeira, has said that the EU's accounts cannot be given a clean bill of health for the 19th year in row. Presenting the Court's annual report to the Budgetary Control Committee on 5 November 2013, he said the error rate for EU budget spending had increased from 3.9% to 4.8%, the third year in a row that there has been an increase. He said that rural development, the environment and fisheries saw the highest error rate, followed by regional policy, energy and transport. However, Mr Caldeira noted that 'it is not always the actors that are to be blamed, sometimes it is the script that they are given,' saying that the whole system of accounting was to blame rather than individual institutions."

An accounting system not based on double entry bookkeeping is wide open to corruption, which is why Brussels does not use double entry bookkeeping.

2 comments:

  1. It's just stunning how they get away with it.

    ReplyDelete
  2. The last honest auditor was sacked by Kinnockio.

    ReplyDelete

Keep it clean.....