Written question asked by Lord Flight (Conservative) on Monday, 26 February 2001, in the House of Commons. It was due for an answer on Friday, 23 March 2001. It was answered by Melanie Johnson (Labour) on Friday, 23 March 2001 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, which European Union institution is responsible for overseeing the accounting practices of the European Investment Bank; what authority, in this regard, is held by the European Court of Auditors; on what grounds the European Court of Auditors can access the financial records of the European Investment Bank; when this has been done; and for what reason.

Answer: Mr. Flight: To ask the Chancellor of the Exchequer which European Union institution is responsible for overseeing the accounting practices of the European Investment Bank; what authority, in this regard, is held by the European Court of Auditors; on what grounds the European Court of Auditors can access the financial records of the European Investment Bank; when this has been done; and for what reason. [151753] Miss Melanie Johnson: The accounting practices of the EIB are overseen by an independent Audit Committee which is accountable directly to the Board of Governors (EU Finance Ministers). The Court of Auditors has access to the bank, in accordance with an agreement under Article 248 of the Treaty.

Secondary information

Type: Written question
Reference: 151753; 365 c385W
Session: 2000-01
Subjects: Accountability Audit Banks EU institutions European Investment Bank
Link: View this Written question on www.publications.parliament.uk