General budget of the European Communities: recasting of the financial regulation

COMMUNITY MEASURE : Commission Regulation 2343/2002/EC Euratom on the framework Financial Regulation for the bodies referred to in Article 185 of Council Regulation 1605/2002/EC, Euratom on the Financial Regulation applicable to the general budget of the European Communities. CONTENT : the Community bodies set up to assume the burden of carrying out certain Community activities have legal personality and hence their own budget governed by specific financial rules. In order to finance the main order to guarantee a certain degree of consistency in these rules compared with Regulation 1605/2002/EC, Euratom and pursuant to Article 185 of that Regulation, this framework Financial Regulation must lay down the rules governing the establishment, implementation and scrutiny of the budget of the said Community bodies which actually receive grants charged to the Community budget. It is on the basis of this framework Financial Regulation that each of those Community bodies will adopt its own financial rules, which, as indicated in the abovementioned Article 185, may depart from the framework Financial Regulation in accordance with the specific management needs of those bodies, but only with the Commission's consent. Like the general Financial Regulation, this framework Financial Regulation confines itself to stating the broad principles and basic rules governing the whole of the budgetary sector concerned, while detailed provisions may subsequently be adopted by these bodies in order to make their financial rules easier to read.