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19/08/2015

Did you know that the EU’s accounts are 96.7% reliable?

The EU accounts for 2010 are thought to represent fairly the financial position of the European Union. The estimated error rate (3.7%) is not an estimate of fraud but reflects an estimation of the degree of non-compliance with the rules governing the spending, which are often more strict with the EU than in different EU Member States. If the accounts are to pass the revision of the EU Court of Auditors, each policy area needs to reach a 98% compliance rate. In order to reach that goal, each of the 27 Member States needs to keep exact accounts of everything, which some have not done effectively.

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