ABSTRACT
The Court of Auditors comprises one member from each Member State, appointed under similar terms and conditions to judges of the ECJ. The term of years is six, and Members are under a duty to act completely independently in the performance of their duties and to act in the general interests of the EU. A President of the Court, appointed for a renewable term of three years, heads the Court of Auditors. It is the Court of Auditors which has responsibility for monitoring the expenditure of the EU. It carries out audits, examining the accounts of all revenue and expenditure of the EU. At the end of each financial year, the Court of Auditors is under a duty to draw up an Annual Report which is forwarded to the other institutions of the EU and published, with replies from these institutions, in the Official Journal of the European Union.
