The Financial Regulation (FR) is the main point of reference for the principles and procedures governing the establishment and implementation of the EU budget and the control of the European Communities’ finances.
From 1 January 2013, a new FR is applied, which is accompanied by new Rules of Application (RAP) and which replace the former Implementing Rules (IR). The RAP contain more detailed and technical rules, which are essential for the day to day implementation of the FR.
The revised Financial Regulation and its Rules of Application have addressed the major concerns expressed in the public consultation and have brought changes in terms of:
- simplification: cutting red tape, speeding up procedures, in particular the time-to-grant, and shifting the focus from paperwork to performance;
- accountability: ensuring enhanced sound financial management and the protection of the EU's financial interests;
- leverage: introducing financial mechanisms which will enable the mobilisation of third-party funds as leverage on EU funds.
A more detailed overview of the revised FR can be found in the MEMO/12/795 published on 29/10/2012 (EN).
For the previous financial regulations and implementation rules, click here
|REGULATION THE EUROPEAN PARLIAMENT AND OF THE COUNCIL||REGULATION (EU, EURATOM) No 966/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002|
|Official Journal L298 OF 26/10/2012||bg cs da de et el en es fr it lv lt hu mt nl pl pt ro sk sl fi sv|
|COMMISSION DELEGATED REGULATION||Commission Delegated Regulation (EU) No 1268/2012 of 29 October 2012 on the rules of application of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union|
|Official Journal L362 OF 31/12/2012||bg cs da de et el en es fr it lv lt hu mt nl pl pt ro sk sl fi sv|