Auditor flags up spending errors in EU budget

The European Union's internal accounting books are generally in order, but a big chunk of payments are subject to "material error" its audit office has said.

"The 2010 accounts present fairly the financial position of the European Union and the results of its operations and its cash flows for the year," Vitor Manuel da Silva Cadeira, the president of the Luxembourg-based European Court of Auditors, told the EU parliament on Thursday (10 November).

Setting aside the overall reliabi...