Financial results and budget management, Audit opinion on financial statements of the Central Government

rdParis, June 3 , 2010 PRESS RELEASE Financial results and budget management, Audit oiopnin on financial statements of the Central Government for the fiscal year 2009 In accordance with the Constitutional Bylaw on Budget Acts (referred to as its French acronym “LOLF”), the Cour des Comptes has issued its annual report on the Central Government Financial Results and Budget Management for the fiscal year 2009, along with the Audit opinion of the financial statements for 2009. These thdocuments were submitted to the Senate’s and National Assembly’s Finance Commissions on May, 26 , 2010. These two documents show a deterioration of the Central Government financial results for 2009, but also consider that the Central Government’s financial statements may be regarded as lawful, truthful, and present a fair view of its financial and patrimonial situation. Still, the Cour des comptes issues nine qualifications (i.e. three less than last year), eight of which regarded as substantial, related to clearly identified financial stakes. And if the State accounts indeed suffered from a severe deterioration, mainly but not only due to the economic crisis, there is no hidden risk. The report on the Central Government’s financial results and budget management for 2009 assesses the conditions under which its operations were managed and gives an insight on its results. The Central Government financial results for 2009 The fiscal ...