Which institution is responsible for overseeing EU spending?

Which institution is responsible for overseeing EU spending?

• A. The European Parliament
• B. The European Court of Auditors
• C. The European Investment Bank
• D. The European Commission

Answer: (B)

The European Court of Auditors plays a crucial role in overseeing EU spending, ensuring financial accountability and transparency. It assesses whether the EU budget is being implemented correctly and whether funds are used efficiently and effectively. This institution evaluates the financial management of the EU institutions and reports on the financial activities to both the European Parliament and the Council. It provides an independent assessment of EU expenditure, giving citizens and lawmakers a clear picture of how their money is spent and whether it achieves its intended objectives. This audit function is pivotal for maintaining trust in the financial operations of the EU. While the other institutions mentioned do have important roles in the overall governance and management of EU finances, they do not specifically focus on auditing and overseeing spending. The European Parliament is involved in budget approval and scrutiny, the European Investment Bank primarily facilitates funding for projects, and the European Commission manages the budget implementation and policy proposals but does not audit itself.

The European Court of Auditors plays a crucial role in overseeing EU spending, ensuring financial accountability and transparency. It assesses whether the EU budget is being implemented correctly and whether funds are used efficiently and effectively. This institution evaluates the financial management of the EU institutions and reports on the financial activities to both the European Parliament and the Council. It provides an independent assessment of EU expenditure, giving citizens and lawmakers a clear picture of how their money is spent and whether it achieves its intended objectives. This audit function is pivotal for maintaining trust in the financial operations of the EU.

While the other institutions mentioned do have important roles in the overall governance and management of EU finances, they do not specifically focus on auditing and overseeing spending. The European Parliament is involved in budget approval and scrutiny, the European Investment Bank primarily facilitates funding for projects, and the European Commission manages the budget implementation and policy proposals but does not audit itself.