Brussels, Belgium, 19 November 2015 - On 16 November 2015 the European Court of Auditors (ECA) published its report on IMI’s annual accounts for the financial year 2014.
IMI welcomes the positive conclusion of the ECA on the reliability of its accounts as well as on the legality and regularity of all transactions underlying the annual accounts.
This clean opinion is due in part to the fact that IMI has succeeded in bringing its residual error rate down so that it is now below the 2% materiality threshold. This achievement demonstrates that a high standard of management and control is applied to taxpayers' money and that the systems put in place by IMI are working well.
Looking to the future, IMI remains committed to managing its funds according to the principles of sound financial management, balancing a trust-based approach to project participants while ensuring sufficient control and accountability. This balanced approach will also contribute to ensuring that IMI’s projects will continue to deliver impressive results that address the needs of patients and society at large. IMI is also committed to reporting transparently on both the funding of beneficiaries and the industry in-kind contributions.