Wednesday, December 05, 2007

European Union fails audit

The BBC reports:
The auditors for the EU have refused to sign off the bloc's financial accounts - for the 13th year in a row.

A report by the European Court of Auditors (ECA) criticises nearly every major area of the EU's expenditure.

The auditors say there are weaknesses across the board and complain of neglect and presumed attempts at fraud.

On the other hand, it is brave of the EU bureaucrats to hire auditors in the first place. There is no independent audit of US accounts.

(OK, the GAO "audits" but, because it reports to congress and congress mandates the spending, the GAO is in no way independent.)

No comments:

Clicky Web Analytics