Problems with traceability of the EU's Covid Recovery Fund is one of the issues Tony Murphy discusses, with concern, on this show.

Irishman Tony Murphy is at the helm of the EU financial watchdog, as President of the European Court of Auditors.

The European Court of Auditors is one of the seven EU institutions and it’s based in Luxembourg. With nearly 1000 staff members, their role is to scrutinise the way in which EU money is spent; make it transparent, traceable and accountable. Plus, does the use of the money ultimately serve the EU citizen?

And so, one part of the job is to follow the money trail, the other is to ensure the performance or use aligns with the EU’s broader strategic priorities.

2024 has been a year of major reports, most prominently the Draghi report on EU competitiveness and the Letta report focussed more on the single market. Letta also emphasises the need for much stricter control on state aid for those most in need. Both highlight the challenges facing the EU in terms of being a global player, competitiveness, the internal market and industrial policy.

‘Sustainable’ Debt versus ‘necessary investment’ is something that auditors have to consider and advise on, when thinking about the future of the EU and kicking the problem down the line, for future generations to pay for.

Tony Murphy talks passionately on the EU’s COVID recovery funds which are a huge problem in terms of following the money - it is not transparent and not easy for  the auditors to see whether the money is or was actually used in the right manner as designed

https://www.eca.europa.eu/en/news/NEWS2024_04_NEWSLETTER_03?mtm_campaign=NewsletterAnalytics&mtm_kwd=RelatedNews&mtm_source=Newsletter-2024-4-2&mtm_content=https://www.eca.europa.eu/en/news/NEWS2024_04_NEWSLETTER_03

They ECA examine revenue and spending in every area of the EU’s work from growth and jobs to environmental policy and climate action.

https://www.eca.europa.eu/en/what-we-do

They undertake ‘performance audit’ reports which digs into whether EU action and funding is efficient and effective - does it deliver results for citizens. Naturally there are also the ‘compliance’ and financial audits to see if rules are being complied with.

  https://www.eca.europa.eu/en/search-publications#k=#l=1033

ECA governance and structure https://www.eca.europa.eu/en/governance

 

ECA’s activity report for 2023 (2024) – this gives a good brief overview of our role and work https://www.eca.europa.eu/en/news/NEWS-AAR-2023

 

Just published (yesterday): ECA plan of audits for next year and afterwards: https://www.eca.europa.eu/en/news/NEWS-WP-2025