Court of Auditors
The Court of Auditors audits the accounts and oversees the implementation of the budgets of the institutions of the European Union. It aims to improve financial management of EU money and to report to EU citizens on how EU money is used.
What does the Court of Auditors do?
The Court of Auditors audits EU funds and how they are spent. It checks that funds are raised and used correctly and that EU institutions have accounted for their spending properly.
It carries out spot checks on EU institutions, EU member states and also countries that receive EU aid.
It publishes an annual report at the end of each financial year. This is sent to the other institutions and must be published in the Official Journal of the European Union.
It reports suspected fraud, corruption or other illegal activity to the European Anti-Fraud Office (OLAF).
Members of the Court of Auditors
The Court of Auditors is based in Luxembourg and includes one member from each EU country. Each member state suggests a candidate who is appointed by the Council of the European Union in consultation with the European Parliament for a renewable term of 6 years
Members of the Court of Auditors are independent and have experience in the
field of audit of public finances. The court members elect their president for
a term of 3 years.