Annual report on the EU Joint Undertakings for the financial year 2018 - Bio-based Industries; ITER and the Development of Fusion Energy.
1. This is a routine annual report by the European Court of Auditors (ECA) on the accounts and transactions of EU research Joint Undertakings (JUs). JUs are partnerships between the EU, industry, research groups and Member States that carry out specific research and innovation projects. The report also contains replies from the JUs.
2. This Explanatory Memorandum covers the sections of the report relating to Fusion For Energy (F4E), the JU for the ITER project currently under construction in the south of France, and the Bio Based Industries (BBI) JU, the EU’s programme of research and innovation to develop bio-based value chains across Europe. Separate Explanatory Memoranda will be submitted to cover the other JUs contained in this report.
3. The report comments on financial management, including budgetary concerns, key issues for supervisory and control systems, legal frameworks, intellectual property rights and industrial policy. The report concludes that the accounts for both F4E and the BBI are reliable and complete and the underlying transactions are legal and regular. F4E is assessed by the report to have a higher area of risk in some areas when compared to other JUs. This is attributed to the complexity of the ITER project and a change in accounting policy this year.