Financial Accountability and European Union Cohesion Policy

Many changes in European Union Cohesion policy since the late 1990s have been driven by the need to ensure and demonstrate financial accountability. This paper examines how the increased emphasis on financial management, control and audit in relation to the European Union budget is reshaping the governance of Cohesion policy, as well as the instruments of financial accountability. It also assesses the effects of these new instruments on financial flows and considers how these changes are perceived by policy-makers. Lastly, it explores the difficulties of assessing the impact of administrative changes on financial accountability in Cohesion policy.