EUROZONE AUDIT FUNCTION ?

In the recent past there have been severe comments on the lack of efficient audit controls of EU expenditure.  In the present climate of EU or EUROZONE reorganizations, it is perhaps a very opportune moment to ask who is responsible for auditing budgets and the subsequent expenditures ?


A contoller function is naturally set up in most private companies, because the absence of controls is dangerous and bankruptcy is a quick consequence !!!


To be efficient, an audit function must be independent and must be supervised and supported by someone at Board level.  A properly staffed audit function can help Directors.  It can help to avoid scandals and embarrassments.  Auditors know that where there is money or expenditure, theft or misappropriation is possible !!!

A previous article in English in this Blog entitled "Les Millions Perdus de l'Europe" dated 2 November 2011 provides some examples of what can go wrong.