dejongj
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Thanks for that, that is very useful.The accounts, including the signed audit report, are linked from the EU's own website.
The nugget of truth in this story is that the EU's auditors have found that a small but 'material' amount of the budget cannot be reliably traced. This doesn't necessarily mean misappropriated - usually just poor record keeping. As a result, the accounts ARE signed but with a minor caveat (called a 'qualified opinion' in accounting speak).
The point at which the funds go 'missing' is at state level - i.e. The EU knows where the money is going and for what purpose, but individual members states fail to reconcile it exactly. This includes the UK.
And the big point, always overlooked by EU critics, is that the EU's auditors define materiality 4 times more strictly than the UK. Yup, those 'money wasters' in Brussels demand a higher level of fiscal accountability than our own beloved government. Go figure.
Conclusion:
If anyone ever tells you that the EU's accounts aren't audited, they're lying.
If they tell you the accounts aren't signed, they're lying.
And if they tell you the money would be better accounted for in the UK, they're lying.
And that's why that Torygraph article is a steaming pile of horses***, written by someone who either knows nothing about accountancy, or is deliberately lying to you.
Having now found the relevant documents; linked here for others
http://ec.europa.eu/budget/library/...discharge/1-council_rec_commission_fin_en.pdf
It is clear that the way the press has reported this, and not just the Telegraph, is very very different than what is actually recorded in the minutes. The issue that the Netherlands, Sweden and United Kingdom specifically requested to be minted is that for 20 years in a row the target of less than 2% errors has not been met. In 2013 it was just 4.7% which I think is not bad at all.
Shame that nobody in the press is making a clear point about this as well. Those reporters should be sacked in my opinion.