The European Court of Auditors

Definition

The European Court of Auditors (ECA) is an institution of the European Union that audits the financial management of the EU budget to ensure transparency and accountability.

Analogy

Think of the ECA as a school inspector. Just like how an inspector checks if a school is using its funds properly, the ECA checks if EU funds are being used correctly and efficiently.

Related terms

Audit: An official inspection of an organization's accounts, typically by an independent body.

Transparency: In governance, transparency refers to openness, communication, and accountability. It's like a glass house where everyone can see what's happening inside.

Accountability: This term refers to the obligation or willingness to accept responsibility for one's actions. It’s like when you borrow your friend’s car; you’re accountable for returning it in good condition.