Financial rules applicable to the general budget of the Union: simplification

This file simplifies the financial rules applicable to the general budget of the Union. It follows the ordinary legislative procedure, where Parliament and the Council of the EU legislate together to produce binding EU law. Ten committees, including Budgets, Budgetary Control, Development and Regional Development, handled it, in the area of the Union budget and financial regulations. The amendments adjust the share of funds kept unallocated for the Instrument for Pre-accession Assistance, the European Neighbourhood Instrument and development cooperation, and address the creation and governance of Union trust funds with donor boards and periodic financial reporting. Others reinforce the Court of Auditors' responsibility for external audits, indirect implementation with Member State organisations, combination of ESI funds, and the concept of budget performance and transparency.