EU financial control authorities meet in Cyprus

Coordination of audit work within the European Union is the focus of the 16th annual meeting of European Financial Control Authorities of structural and cohesion funds, currently underway in Cyprus.
Addressing the meeting, Minister of Communications and Works Maria Malachtou Pampalli has said that ”the Control Authorities of the member states have indeed a vital role to play in achieving sound financial management of the Structural and Cohesion Funds.”
The meeting is organised by the European Commission and the Treasury of the Republic of Cyprus.
“This is indeed one of the cornerstones of the single audit approach which, is itself one of the four main areas of the Action Plan towards an Integrated Internal Control Framework, adopted by the Commission in 2006,” she added.
This aimed co-ordination is essential, she pointed out, in promoting the Commission’s overall objective, that is, to ensure that effective and efficient management and control systems are set up in member states.
“It is through the effectiveness of these systems that the European Union seeks to implement its cohesion policy successfully. And of course, equally important is the obtaining of a positive declaration of assurance for the European Court of Auditors”, she concluded.