What is the role of the European Court of Auditors?

The European Court of Auditors serves a critical function as the independent external auditor for the European Union. Its primary responsibility is to oversee the financial management of the EU and ensure that funds are spent efficiently and effectively. This involves auditing the accounts of the EU and assessing whether financial transactions are legally and correctly executed, as well as whether resources have been used to achieve the intended outcomes.

The Court's independent status allows it to provide objective reports and assessments, which are crucial for maintaining accountability and transparency within the EU's financial framework. This includes reporting on the legality and regularity of the financial statements and evaluating the performance of EU spending, which helps ensure that EU funds are utilized in a manner that aligns with the goals and policies of the union.

In contrast, the roles outlined in the other options do not align with the function of the Court. Managing the EU's legislative process and proposing new EU regulations are functions designated to the European Parliament and the European Commission. Overseeing the enforcement of EU law falls primarily under the remit of the European Commission and the European Court of Justice. Thus, recognizing the unique and critical role of the European Court of Auditors as an independent external auditor is key to understanding the distinct functions within the European governance structure.