Annual Report from the Court of Auditors
The Court of Auditors of the European Communities has recently published their annual report which sets out the results of its audits of the implementation of the general budget of the EU and of the use made of Community funds through financial instruments and banking activities. The report draws the attention of the European institutions and the citizens of Europe to numerous problems which ought to be resolved. The observations set out in the report arise from the Court's audit of revenue and expenditure, including its audit from the point of view of sound financial management. These are followed by a statement of assurance as to the reliability of the accounts and the legality and regularity of the transactions underlying the general budget. This year's content differ somewhat from previous reports. For practical reasons the Court has decided to publish most of its audit findings in special reports. The overall report therefore contains general observations and a summary of the conclusions of the various audits which have been adopted. The report is divided into the following sections: - Report on activities financed from the general budget: . Own resources; . The common agricultural policy; . Structural measures; . Internal policies; . External aid; . Administrative expenditure; . Financial instruments and banking activities; - Report on the activities of the sixth and seventh European development fund; - The response of the relevant institution to the report on activities financed from the general budget.