The European Court of Auditors and the cooperation with the Supreme Audit Institutions in the European Union – Building a network based on accountability, transparency and confidence

Abstract

Independent auditors, both in the private and public sectors, attach great importance to promoting accountability and transparency. These are fundamental democratic values that are essential to ensuring trust and confidence not only in markets but also in government. In the public sector, they are essential to ensuring that public funds are soundly managed on behalf of citizens and taxpayers. Accountability and transparency are particularly important in the context of an EU of 27 Members States and in the face of global challenges, such as dealing with the current financial and economical crisis, creating jobs and growth, combating climate change and achieving sustainability. These challenges are putting pressure on public finances everywhere, and EU citizens and taxpayers expect and trust that EU funds will be spend wisely. The cooperation between the European Court of Auditors (ECA) and the Supreme Audit Institutions (SAIs) in the European Union (EU) is becoming increasingly important in the context of the external audit of the EU funds. This article outlines the role of the ECA within this context, the impact of its audit work and opinions, and the reinforcement of the cooperation between the Court and the SAIs towards the building of a network based on accountability, transparency and confidence.