Romania's Court of Accounts uncovers EUR 400 mln damages to the state

Romania’s Court of Accounts has uncovered significant damages caused by mismanagement of public funds in 2014. The Court’s inspectors have found that close to EUR 400 million have been improperly spent, thus damaging the state and the local authorities’ budgets. For these damages, the Court of Accounts has filed 127 notifications to prosecutors. The inspectors have also found financial and accounting irregularities totaling EUR 5.1 billion, mostly caused by errors in registering some operations. The Court of Accounts also determined that the state failed to collect budgetary revenues worth some EUR 813 million, due to deviations in the activity of the fiscal institutions. The control institution has checked over 2,500 public institutions, including ministries, city halls, and state-owned companies. It issued fines worth EUR 58 million. editor@romania-insider.com