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[More than €4] Billions of euros of EU funds misspent last year
The European Court of Auditors (ECA), which is responsible for assessing the annual 155-billion-euro EU budget, estimated that an average of 2.6% of last year's EU expenses were irregular, up from 2.4% the previous year
Irregular payments are usually the result of mistakes or the wrong application of EU rules but in the worst cases they can hide full-fledged fraud. Only for a handful of payments did the court raise concerns to investigative authorities, the report said. Last year, the EU anti-fraud office OLAF recommended the recovery of 371 million euros of EU funds because of criminal abuses.

The irregularities detected are likely to represent a fraction of all errors in EU spending because of the limited resources available to auditors to conduct checks.

ECA | governance, collegiate body of 28 Members, appointed by the Council with advice of EP for renewable terms of six years
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by Cat on Wed Oct 9th, 2019 at 12:58:22 AM EST
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