HISTORY
• Created by the 1975 Budgetary Treaty
• Formally established on 18 October 1977
• Legal status defined by Treaty of Maastricht (1992)
COMPOSITION
• One member from each EU country (28)
• Appointed by the Council for a renewable term of six years
PRESIDENT
Choosed by the members for a renewablethree years term
Functions:- Chairs the ECA meetings- Ensures that ECA decisions are implemented and that the institution and its activities are soundly managed
Vítor Manuel da Silva Caldeira.
MISSION
• The EU’s financial watchdog• Act as the independent guardian of the
financial interests of the citizens of the Union• To present the European Parliament and the
Council an annual report on the previous financial year
• Giving its opinion on EU financial legislation• To promote accountability and transparency