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£5 Billion 'missing' from EU's 2014 budget

(3 Posts)
Spinflight Sat 11-Jun-16 19:45:14

www.eca.europa.eu/Lists/ECADocuments/auditinbrief-2014/auditinbrief-2014-EN.pdf

"For the expenditure budget as awhole, our estimated level of error of 4.4% leads us to provide an adverse opinion on the regularity of expenditure (for an explanation of ‘regularity’ please refer to page 46)."

4.4% of 144.5 Billion Euros is 6.35 Billion Euros ==

£5 Billion!

Whisky2014 Sun 12-Jun-16 10:29:35

That's not very much actually. I'd have expected a lot more!

Spinflight Sun 12-Jun-16 13:41:53

Yeah, only £1 in every £23.

Granted no business could operate with 4.4% of it's spending classed as irregular by auditors. The difference being that a business has clear lines of responsibility.

No-one in the EU is accountable, we can't sack whoever is responsible.

One does wonder where that money goes, you can buy a lot of people's loyalty with £5 Billion a year...

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