Amendment to the Financial Regulation: separation of the internal audit from the ex ante control

PURPOSE : to amend the Financial Regulation of 21/12/1977 applicable to the general budget of the European Communities as regards separating the internal audit function from the ex-ante financial control function. COMMUNITY MEASURE : Council Regulation 762/2001/EC, ECSC, Euratom. CONTENT : pending the recasting of the Financial Regulation, this regulation aims to separate the internal audit function from the financial controller's other functions. This separation shall enable the financial controller to continue to fulfil his present functions, including ex ante finaicnal control, but not that of internal audit, which will be performed by an internal auditor independent of the financial controller. In order to bring greater transparency to budget implementation, each institution's financial controller and internal auditor auditor should produce an annual report illustrating the main lessons to be learned from the last financial year. ENTRY INTO FORCE : 27/04/2001.�