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In 1995, the Union's budgetary operations reached ECU 100 billion, including borrowing and lending activities. Every institution and body that has access to Union funds is subject to scrutiny and must provide the Court of Auditors with the information and documents it requires. Not only the European institutions fall within its scope; national, regional and local administrations which manage Community funds must satisfy the Court that all is in order, as will as recipients of Community aid, inside and outside the Union.
The task of the Court and its auditors is to check that revenue and expenditure observe the legal regulations and are in line with the Community´s budgetary and accounting principles. At the same time, the Court is also concerned to make cure that the Community is getting value for its money by checking whether and to what extent financial management objectives have been achieved and at what price.
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