site.btaEuropean Court of Auditors: Bulgaria Shows Good Cooperation between Audit and Governing Bodies

No quantitative errors have been found in the area of cohesion and natural resources in Bulgaria - a trend that has been present here over the last five years, said Iliana Ivanova of the European Court of Auditors (ECA) on Tuesday during the presentation of the ECA's 2021 yearly report to the Bulgarian National Audit Office (BNAO) leadership. Bulgaria is cited as an excellent example of good cooperation between audit and governing bodies.

According to Ivanova, it is this cooperation that leads to low error rates. No irregularities were found in respect of the operations checked by the audit authority.

The presentation was attended by BNAO President Tzvetan Tzvetkov and Vice Presidents Goritsa Grancharova-Kozhareva and Toshko Todorov, reported BNAO.

Bulgaria maintains a stable trend in EU funds absorption, with a 60% absorption rate for 2021, which is close to the EU average of 67% as well as to the rates of Spain and Germany.

In Natural Resources, the overall EU error rate identified in 2021 is close to the materiality threshold.

The overall error rate for EU budget expenditure increased in 2021 to 3%, against 2.7% in 2020. Around 63.3% of audited expenditure is assessed as high risk - an increase compared to 2020, when that value was 59%.