Protection of funds

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The protection of the financial interests of the Union is a fundamental element for consolidating and strengthening the trust of citizens and guaranteeing their money is being used correctly.

Therefore, the expenses covered by the EAGF and the EAFRD must be monitoredwhich is done initially by the paying agencies.

However, if the Commission's audits confirm that some of the expenses have not been incurred in accordance with EU legislation and, in the case of the EAFRD, with EU and national legislation, the Commission will adopt decisions to enable the exclusion of amounts of the financing, called “financial corrections”(See more: Conformity clearance procedure)

The Commission must verify and establish through a resolution that the accounts of the authorised paying agencies presented every year are entire, accurate and true. (See more: Account settlement procedure)

Great importance is also placed on the examination of financial irregularities and fraud in the implementation of the EU budget, and the adoption of measures to prevent and prosecute such cases. That is why it is a priority to recover undue payments from the paying agencies (See more: Procedure for recovering undue payments), as well as the quarterly reporting, through FEGA as the coordination body, of all the cases of irregularities and suspected and confirmed fraud to the European Anti-fraud Office (commonly known as OLAF) (See more: Reports of irregularities and suspected and confirmed fraud)

Modification date: 11/12/2018