The European Court of Auditors (ECA) was established to improve the EU’s financial management. The ECA was created by the 1975 Budgetary Treaty and formally came into force on 18 October 1977. It does not have legal powers but serves to improve the European Commission’s management of the EU budget and EU financial reports.
The Court is divided into audit groups called ‘chambers’ and is responsible for preparing reports and opinions for the Court members to adopt.
The ECA primarily carries out three types of audits: financial, compliance, and performance. Financial audits involve checking whether the accounts accurately present the financial position, results, and cash flow for the year. Compliance audits make sure that the financial transactions abide by the rules. The performance audits ensure that the EU funds achieve the stipulated goals.
The current president of the ECA is Klaus-Heiner Lehne, a German lawyer and politician. He was appointed as ECA’s 11th president in 2016 and was subsequently re-elected for a second three-year term in 2019.
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