The Court of Auditors is meant to keep track of EU money so that citizens know where their money goes. Its aim is to improve the efficency of EU financial management.
The court audits the EU accounts and the implementation of the budget, proividing the European Parliament and the Council of Ministers with a statement on the accounts' reliability. It also delivers opinions, when requested to do so, on the financial implications of proposed legislation.
In the 1990s the court regularly revealed cases of fraud, payments made in error and other cases of spending that failed to meet its objectives.