"If this report, outlining as it does the continued gross mismanagement of EU funds, doesn't set alarm bells ringing in Downing Street then nothing will," says UKIP MEP Marta Andreasen.
•Findings from the EU Court of Auditors report should send alarm bells ringing in Downing Street, says former European Commission Chief Accountant and now UKIP MEP Marta Andreasen.
The European Court of Auditors (pictured) has published its audit of the 2011 EU Budget this morning showing an increased 'error rate' - unaccounted for money - on 2010, meaning that for the 18th year in a row the budget fails to win a clean bill of health.
The overall error rate in general is now up to 3.9%. In rural development that rate increased to 7.7% and in research, an area earmarked for more budget funding in 2013, it grew to 3%.
Alarmingly the error frequency - how many irregular transactions appear in the auditors sample - is around or exceeds 50% for rural development, regional funding and research.
After this morning's presentation of the report, Ms Andreasen said: "This is now the 18th year in a row that the European Court of Auditors has refused to give the EU Budget a clean bill of health.
"Worse still the 'error rate' - shorthand for unaccounted money - is on the rise.
"Research, the EU's political baby is worst affected, along with Agriculture, which represents the largest chunk of the EU budget. And yet the European institutions want even more money for 2013.
"If this report, outlining as it does the continued gross mismanagement of EU funds, doesn't set alarm bells ringing in Downing Street then nothing will.
"There is a new generation who will be voting later this month who have never known an EU with clean accounts."