General budget of the European Communities: review of the recast Financial Regulation

2005/0090(CNS)

The European Parliament adopted a resolution on the Financial Regulation applicable to the general budget of the European Communities.

The Parliament notes that the Commission has altered its proposal pursuant to Article 250(2) of the EC Treaty and, in particular, that the principle of proportionality, the demand for more transparency, the excluded-participants database and the Member States" annual reports have been incorporated, as called for by Parliament in its amendments adopted on 15 March 2006.

The MEPs welcome the incorporation of the principle of effective and efficient internal control, including a tolerable level of risk. They approve the modified Commission proposal of 18 May 2006 in so far as it takes account of Parliament's amendments, without prejudice, however, to its position of 15 March 2006 and 6 July 2006, which still applies unreservedly.