Brussels, 13/06/2013 (Agence Europe) - National courts of auditors are calling for the establishment of a coherent auditing system as a counterpart to the boosting of economic and monetary union (EMU), a subject to be discussed at the European summit later this month (see EUROPE 10865).
In a joint statement issued on Wednesday 12 June, the contact committee for national auditing institutes (ISC) says that the roadmap on strengthening EMU that is currently being prepared by the European Council provides a wonderful opportunity to preserve and boost external auditing of public finances and the reporting obligation within the framework of completing EMU and banking union and greater coordination of economic policies. It recommends the establishing of a coherent framework for auditing and reporting obligations that preserves the roles of the EP and national parliaments; recognition in EU legislation of the importance of external auditing of public finances; stronger auditing measures for banking union: adding auditing measures to budget discipline, with member states being allowed to decide on the tasks to be delegated to ISC; and improving transparency and coherence when it comes to the auditing of the financial stability instrument. (MB/transl.fl)