EU FINANCE MINISTERS AGREE TO SET UP EXPERT PANEL ON BETTER BUDGETARY CONTROL.

EU Finance Ministers have agreed to set up an expert panel to examine how to get the Court of Auditors to approve the European Union's spending for the first time. At the meeting of the Economic and Finance Council on July 12, ministers responded positively to a Communication presented by Administration and Anti-Fraud Commissioner Siim Kallas on a roadmap to an integrated internal control framework. The Communication, adopted on June 15, aims to improve the current system of financial control by requiring member state Finance Ministers to sign off their national accounts, thereby giving a commitment that they had proper systems in place to ensure that EU funds are being spent properly at national level.

The Commission would also ensure that...