European Court of Auditors

The European Court of Auditors checks EU funds are collected and used correctly. Its main goal is to improve the financial management of the European Union and prepare a report on how EU funds are spent. The European Court of Auditors was established in 1975 and is based in Luxembourg. The Court of Auditors has approximately 800 employees, including auditors, translators and administrators. Auditors are divided into audit groups. They prepare reports on the decisions made by the court.

Members (one from each EU country) of the European Court of Auditors are appointed by the Council for 6-year terms. They choose one of their number as President for a 3-year term. The European Court of Auditors has the right to check any person or organisation handling EU funds. 

The European Court of Auditors  often carries out spot checks in EU institutions. It prepares audit reports and submits them to the Commission and EU national governments. The European Court of Auditors  does not have legal powers and reports suspected  illegal activites to The European Anti-Fraud Office – OLAF.

One of the most important functions of the Court is to produce an annual expenditure report  to the European Parliament and Council of the EU. The Court of Auditors is also obliged to express its opinion regarding the the European Union’s financial laws and the fight against fraud. In order for the Court to perform its duties properly, it is necessary to maintain complete independence from other institutions of the European Union, while at the same time maintaining constant contact with them.