Public Accounts Committee

Memorandum on Financial Management in the EU inquiry

Inquiry status: open

Public Accounts Committee holds a session on the memorandum on financial management in the EU on Thursday 25 February 2016.

Scope of the Inquiry

The Public Accounts Committee visited the European Commission in January 2015 and met with the European Commissioner for Budget and Human Resources in the college of the Juncker Commission to discuss the European Court of Auditor’s report on the EU’s accounts.  The Committee has decided to hold an inquiry into the key findings of the European Court of Auditor’s Annual Report 2014, informed by a National Audit Office memorandum on financial management in the EU.

What is the European Court of Auditors?

Every year the European Court of Auditors (ECA) audits the revenue and expenditure of the EU budget and provides its opinion on the extent to which the annual accounts are reliable and income and spending transactions comply with the applicable rules and regulations. EU budgetary spending totalled €142.5 billion in 2014, or around €300 for every citizen. This spending amounts to around one per cent of EU gross national income and represents approximately two per cent of total public spending of EU Member States. The EU budget is agreed annually—within the context of seven year financial frameworks—by the European Parliament and the Council.

Ensuring that the budget is properly spent is primarily the responsibility of the European Commission, along with the other EU institutions and bodies. For around 80% of the spending (principally agriculture and cohesion) this responsibility is shared with the EU’s Member States.

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Latest evidence

No evidence has been published yet.

Next meeting(s)

25 February 2016 10:00 AM

Oral Evidence Session

Memorandum on financial management in the EU
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Nick Joicey, Director General, Strategy, International, Food and Farming, DEFRA
Jacinda Humphry, Finance Director, DCLG
Jonathan Black, Director, Europe, HM Treasury
Phil Wynn Owen, UK Member European Court of Auditors
Dr Manfred Kraff, Deputy Director General and Accounting Officer of the European Commission


The Boothroyd Room, Portcullis House

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