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European Court of Auditors

based in Luxembourg, is responsible for auditing the financial management of the European Union and for protecting the EU's financial interests, including:

• audit of EU revenue and expenditure,

• verifying the cost-effectiveness and transparency of EU funds,

• reporting to the European Anti-Fraud Office on suspected or detected fraud, corruption and other illegal activities,

• preparation of expert opinions on more efficient and responsible use of EU public funds,

• preparing opinions on legislative proposals related to EU financial matters,

• preparation of annual reports on the Court's activities

• and another.

The European Court of Auditors is a body of 27 members (one member from each EU Member State). The members of the Court are appointed by the Council, after consulting the European Parliament, for a term of six years, renewable.

The Court is chaired by a President, elected from among its members for a term of three years, renewable. The court is organized in:

- five chambers in different fields:

- sustainable use of natural resources,

- investment for cohesion, growth and integration,

- external action, security and justice,

- regulation of markets and competitive economy,

- financing and administering the Union,

- different committees:

- Internal Audit Committee,

- Audit Quality Control Committee,

- Foresight Advisory Panel

- Ethics Committee,

- Administrative Committee and

- Secretariat General.

Picture: European Court of Auditors