Every year the Court of Auditors deliver a so-called DAS statement about the validity of the EU accounts. The core of this statement is a so-called financial security model setting out the system for auditing the accounts control and a sample of the transactions undertaken.
For 13 years in a row the Court of Auditors did not approve the validity of the underlying transactions in the accounts. In 2007 they finally approved them, but with a similar criticism as in previous years. For 2007 they criticized 54% of the accounts in their “DAS Statement”.
So, since 1994 the validity of the underlying transactions has never been fully approved.