Brussels, 21/06/2007 (Agence Europe) - On Thursday 21 June, the European Commission adopted a report that examines the progress made in the modernisation of its internal accounting system. The current accounting system was implemented in January 2005, in compliance with the deadlines set out in the financial regulation. The Commission points out in its report that the transition to a new accounting system allows it to “better manage daily finance” and “obtain better financial information”. The Commission explains that the accounts modernisation work, however, is still not completed. It also indicated that development of the current accounting system will continue this year and next.
The report focuses on the situation up to 31 March last and indicates that the Commission is continuing to respect the regulatory deadlines for the transition to the current accounting system, and that the external auditors and discharge authorities are largely satisfied with the progress accomplished. The report writers recommend, nonetheless, that they “do not rest on their laurels” and continue to improve and develop the accounting processes further.
The main challenges remaining are: complete integration in each of the Directorate Generals and services of procedures and controls necessary for guaranteeing a data accounting quality that is “always high”; improvements in the registration and communication of the amounts recovered by the Commission and member states; completion of the existing validation systems at DG “Europe Aid” (AIDCO) and Education and Culture (EAC) and approval of new information systems used by DG Relations and other DGs; integration of the European Development Fund accounts into the new accounting system (known as “ABAC”) and personnel training in this subject in the 46 delegations involved; integration into the ABAC system of a large number of external bodies (agencies and different committees)
Report conclusions explain that “the project plan for the two years ahead addresses these challenges, and the Commission remains committed to achieving the highest standards of accounting in the public sector”. (lc)