Court of Auditors
The main task of the Court of Auditors is to audit the accounts and oversee 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. It draws up an annual report at the end of each financial year. This is forwarded to the other institutions and must be published in the Official Journal of the European Union.
The Court of Auditors has its headquarters in Luxembourg and is composed of 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.
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