Item Details

The Commission's Treasury Management

European Court of Auditors
Format
EBook; Book; Government Document; Computer Media; Online
Published
Luxembourg : Office for Official Publications of the European Communities, 2009.
Language
English
Bulgarian (also in)
Czech (also in)
Danish (also in)
Dutch (also in)
Estonian (also in)
Finnish (also in)
French (also in)
German (also in)
Greek, Modern (1453- ) (also in)
Hungarian (also in)
Italian (also in)
Latvian (also in)
Lithuanian (also in)
Maltese (also in)
Polish (also in)
Portuguese (also in)
Romanian (also in)
Slovak (also in)
Slovenian (also in)
Spanish (also in)
Swedish (also in)
Series
Special Report
Special Report (European Court of Auditors)
ISBN
9292072951, 9789292072957
Summary
In this special report the Court audited the quality of the Commission's treasury management, assessing whether the Commission complied with the relevant rules and regulations, and whether the Commission had established internal control systems which ensure a sound treasury management. The Court concluded that overall the Commission complied with the applicable Community legislation, that it had set up prudent cash management forecast procedures, and that in general its internal control procedures were effective. However, the Court also found a lack of coordination between the relevant Commission DGs in areas such as risk management and control. This led to a situation where the Commission did not sufficiently consider its overall risk exposure with each commercial bank. Furthermore the Court found that there is an increased risk of loss of provisionally collected fines held in specific bank current accounts.--Publisher's description.
In this report, the European Court of Auditors assesses the quality of the European Commission's treasury management, determines whether the Commission complies with the relevant rules and regulations, and whether the Commission has established internal control systems which insure sound treasury management.
Contents
  • Introduction. Background
  • Regulatory framework
  • The European Commission's treasury management activities
  • Audit scope and approach
  • Main observations. Does the Commission comply with the rules and regulations applicable to treasury management?
  • Has the Commission established internal control systems which ensure sound treasury management?
  • Conclusions and recommendations.
Description
34 p. : ill. (some col.) ; 30 cm. + 1 CD-ROM (4 3/4 in.)
Notes
  • CD-ROM contains PDF versions of the text in twenty-two languages: Bulgarian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Romanian, Slovak, Slovenian, Spanish, Swedish.
  • "QJ-AB-09-005-EN-C"--P. [4] of cover.
  • "QJ-AB-09-005-11-Z"--Disc label.
  • Includes bibliographical references.
Series Statement
Special Report, 1831-0834 ; no. 5/2009
Special report (European Court of Auditors) no. 2009/5
Other Forms
Also available online.
Logo for Copyright Not EvaluatedCopyright Not Evaluated
Technical Details

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    a| In this special report the Court audited the quality of the Commission's treasury management, assessing whether the Commission complied with the relevant rules and regulations, and whether the Commission had established internal control systems which ensure a sound treasury management. The Court concluded that overall the Commission complied with the applicable Community legislation, that it had set up prudent cash management forecast procedures, and that in general its internal control procedures were effective. However, the Court also found a lack of coordination between the relevant Commission DGs in areas such as risk management and control. This led to a situation where the Commission did not sufficiently consider its overall risk exposure with each commercial bank. Furthermore the Court found that there is an increased risk of loss of provisionally collected fines held in specific bank current accounts.--Publisher's description.
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    a| Introduction. Background -- Regulatory framework -- The European Commission's treasury management activities -- Audit scope and approach -- Main observations. Does the Commission comply with the rules and regulations applicable to treasury management? -- Has the Commission established internal control systems which ensure sound treasury management? -- Conclusions and recommendations.
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