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ECA report at a glance: The verdict of the auditors
The annual accounts of the European Union for 2010 are reliable.
The auditors cannot give overall assurance on the legality and regularity of the underlying transactions:
– on the revenue underlying the accounts: legal and regular;
– on commitments underlying the accounts: legal and regular;
– on payments underlying the accounts: materially affected by error;
The problem areas, where the error rate is too great, are i) agriculture and natural resources and ii) cohesion, energy and transport.
Overall, the auditors estimate that “the most likely error rate for payments underlying the accounts is 3.7%”.
On the European Development Funds (8th, 9th and 10th):
The auditors conclude that the annual accounts are reliable.
On the legality and regularity of the underlying transactions, they conclude: revenue and commitments are legal and regular.
On payments, the supervisory and control systems are “partially effective” in ensuring regularity. They estimate that the error rate for payments is 3.4%.
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