THE AUDIT OF EU NON-REIMBURSABLE FUNDS

Ocolisanu Andreea
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Ocolisanu Andreea: LUCIAN BLAGA UNIVERSITY OF SIBIU, ROMANIA

Annals - Economy Series, 2019, vol. 5, 162-170

Abstract: External public audit of non-reimbursable EU funds involves the application of those specific audit procedures to obtain adequate and sufficient audit evidence regarding the legality and regularity of transactions, the completeness and accuracy of the data entered in the accounts, as well as the compliance of the management and control systems with the applicable regulations so that the audit opinion to be substantiated. The article presents essential aspects regarding the audit actions on EU non-reimbursable funds, summarizes the results of the audit activity carried out by the Audit Authority, with particular reference to the programming period 2007-2013, considering its completion, following the impact of the audit opinions through the irregularities or the frauds identified and the reporting to the European Commission, in view of using the audit results for continuing the financing process. The main responsibility for fraud prevention and detection lies with the managing authorities. However, the success of the fight against fraud depends on the joint efforts of managing and certification authorities, auditors and other stakeholders. Each participant in the chain must play its role in protecting the EU's financial interests.

Keywords: audit; non-reimbursable EU funds; fraud; irregularities (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2019:v:5:p:162-170

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