EU accounts reform delayed in three directorate generals

Comprehensive introduction of accrual accounting to European Union (EU) accounts has been delayed

A European Commission report has admitted that the comprehensive introduction of accrual accounting to European Union (EU) accounts has been delayed in three directorate generals, or ‘DG’s’ in Brussels' famously baffling jargon.

The reform was hailed as a cornerstone of attempts in Brussels to improve accounting rigour, following a series of scandals and criticism about inefficiencies.

However, although accrual accounting was used to test and document the EU’s provisional accounts for 2005 by this March 31, reliable accrual systems are not yet in place for the Europe Aid Cooperation Office (AIDCO), and the directorate generals for external affairs (RELEX) and education and culture (EAC).

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