Tag Archives: Audit

Working document – on European Court of Auditors’ Special Report 9/2017 (2016 Discharge): “EU support to fight human trafficking in South/South-East Asia” – PE 607.978v01-00 – Committee on Budgetary Control

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Written question – Money laundering and tax evasion in any part of the world where EU-based organisations are involved – P-006751/2017

The EU is South Africa’s most important development and trade partner. The Commission is probably aware of the recent scandal involving the South African President Jacob Zuma and companies owned by the Gupta family. In this scandal, there have been a number of recent developments in the field of money laundering and tax evasion.

The commitment to fighting against money laundering and terrorist financing is an important part of the Union’s external relations with third countries. Several EU financial institutions are on the list of institutions helping to facilitate the transfer of illicit funds.

A major audit company admitted to missing red flags in auditing Gupta family companies. The EU’s Audit Regulation was adopted in 2014, and aims to prevent conflicts of interests, but several scandals that have taken place in the EU in 2017 alone have called the effectiveness of the regulation into question.

1. How will the Commission strengthen EU anti-money laundering rules with regard to EU financial institutions active in third countries?

2. How is the Commission ensuring that audit companies fulfil the highest ethical standards in their operations within the EU?

3. Does the Commission believe that the rules on limits on the cross-selling of non-audit services should be tightened and, if so, when will it propose amendments to this regulation?

Written question – Money laundering and tax evasion in any part of the world where EU-based organisations are involved – P-006751/2017

The EU is South Africa’s most important development and trade partner. The Commission is probably aware of the recent scandal involving the South African President Jacob Zuma and companies owned by the Gupta family. In this scandal, there have been a number of recent developments in the field of money laundering and tax evasion.

The commitment to fighting against money laundering and terrorist financing is an important part of the Union’s external relations with third countries. Several EU financial institutions are on the list of institutions helping to facilitate the transfer of illicit funds.

A major audit company admitted to missing red flags in auditing Gupta family companies. The EU’s Audit Regulation was adopted in 2014, and aims to prevent conflicts of interests, but several scandals that have taken place in the EU in 2017 alone have called the effectiveness of the regulation into question.

1. How will the Commission strengthen EU anti-money laundering rules with regard to EU financial institutions active in third countries?

2. How is the Commission ensuring that audit companies fulfil the highest ethical standards in their operations within the EU?

3. Does the Commission believe that the rules on limits on the cross-selling of non-audit services should be tightened and, if so, when will it propose amendments to this regulation?

Written question – Money laundering and tax evasion in any part of the world where EU-based organisations are involved – P-006751/2017

The EU is South Africa’s most important development and trade partner. The Commission is probably aware of the recent scandal involving the South African President Jacob Zuma and companies owned by the Gupta family. In this scandal, there have been a number of recent developments in the field of money laundering and tax evasion.

The commitment to fighting against money laundering and terrorist financing is an important part of the Union’s external relations with third countries. Several EU financial institutions are on the list of institutions helping to facilitate the transfer of illicit funds.

A major audit company admitted to missing red flags in auditing Gupta family companies. The EU’s Audit Regulation was adopted in 2014, and aims to prevent conflicts of interests, but several scandals that have taken place in the EU in 2017 alone have called the effectiveness of the regulation into question.

1. How will the Commission strengthen EU anti-money laundering rules with regard to EU financial institutions active in third countries?

2. How is the Commission ensuring that audit companies fulfil the highest ethical standards in their operations within the EU?

3. Does the Commission believe that the rules on limits on the cross-selling of non-audit services should be tightened and, if so, when will it propose amendments to this regulation?

Written question – Insufficient capacity to spend 2014-2020 ESI funding in southern Italy – E-006404/2017

At the ceremony marking the start of the 2017 judicial year the President of the Italian Audit Court, Arturo Martucci di Scafizzi, referring to the ESIFs, said that Italy is handicapped because it lacks the capacity to spend EU resources, and the funding in question is therefore lost.

This phenomenon, which is more marked in the South, is, in his view, a glaring anomaly, given the economic difficulties facing Italy. The lack of spending capacity can also be seen from the observations in the annual report on the implementation of the budget concerning the financial year 2015, in which the European Court of Auditors notes that Italy is one of the five Member States accounting for more than half of the unused commitments under the 2007-2013 MFF ESI funds.

What practical steps will the Commission take to help Member States make proper use of the ESI funding allocated to them?