What is the European Court of Auditors?
The European Court of Auditors (ECA) is the EU’s financial watchdog, responsible for ensuring the sound financial management of the EU. It oversees accounting practices in the EU institutions, ensures EU funds are raised and spent legally, and that EU spending is value for money. It is one of the seven official institutions of the EU, alongside the likes of the Commission and Parliament. The ECA is governed by a college of 27 members, one from each member state, and its president is elected from among its members by the college.