PFM risks to come under European audit scrutiny

11 Feb 14
European Union auditors will this year begin to focus on risks and gaps in public financial management and governance, according to their work programme published today

By | 11 February 2013

European Union auditors will this year begin to focus on risks and gaps in public financial management and governance, according to their work programme published today.

Issuing its forward plan, the European Court of Auditors revealed it intended to publish two ‘landscape’ reviews. The first of these will address EU financial management risks, while the second will examine accountability and audit deficits.

‘The landscape reviews are a new product,’ the ECA said.

‘The purpose of the one on EU financial management risks is to identify the principal financial management risks currently facing the EU and to provide an overview of EU policies where the quality of financial management is most at risk.

‘The review on EU accountability and audit deficits will identify those deficits which affect public financial management and good governance.’

Elsewhere, the work programme stated that the ECA intends to issue 53 annual reports, including one on the EU budget, and 24 special reports, which present the work of selected performance and compliance audits.

Among the special reports will be assessments of the costs of rural development projects, the effectiveness of EU support to Haiti following the 2010 earthquake and the reliability of systems for monitoring aid spending.

The results of a peer review of the ECA’s performance and practice, which was carried out last year, will also be published.

‘In performing its work the ECA aims to provide clear conclusions on the state of accounting and financial management of the EU budget (and specific spending areas), as well as to give practical, cost-effective recommendations where improvements can be made,’ it stated.

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