Information note: Annual Report of the European Court of Auditors published today on the implementation of the 2003 EU budget

The European Court of Auditors published its Annual Report on the implementation of the 2003 EU budget on 17 November 2004. The Court's opinion was that the 2003 consolidated accounts of the European Communities faithfully reflected the revenue and expenditure and the financial situation of the Communities at the year-end, except for one observation related to the recording of the operations concerning the sundry debtors. The Court noted that the modernisation of the accounting system, due to be operational for the 2005 financial year, still required considerable efforts before being ready for full implementation.

http://eca.europa.eu/portal/pls/portal/docs/1/133991.PDF http://eca.europa.eu/portal/pls/portal/docs/1/133991.PDF

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