European Funding System
Collectively, the European Commissioners have the ultimate political responsibility for ensuring that European Union funds are properly spent. Each year they endorse the European Union’s annual accounts, including data on all expenditure during that fiscal year. The European Parliament then decides whether to give its approval to how the Commission implements its budget, a procedure known as the ‘budget discharge’. The European Commission delegates day-to-day management of the budget to its directors-general and the head of the European External Action Service. They provide an analysis of the internal control and financial management systems set up by each department to ensure European Union funds are properly managed. The European Union’s accounts are based on ‘accrual accounting’ standards, a modern and transparent accounting system which only a few national governments apply as yet. The system mirrors the modern accounting standards used by the private sector.

Focus, Efficiency and Accountability
The Polo Centre of Sustainability complies with an international three-point platform of effectiveness:
(1)    Focus: to find practical, sustainable solutions to the problems concerning interdisciplinary studies, we concentrate our support for applied research on development priorities.
(2)    Efficiency: at the Polo Centre of Sustainability, we have several mechanisms at both board and management levels to review priorities, evaluate successes, identify problems and allocate resources. The Organisation approves research, projects and plans that spell out our priorities, objectives and evaluation strategies.
(3)    Accountability: to manage risk effectively and fully comply with audit and evaluation functions. This is also demonstrated in Privacy and Disclaimer sections of this website.

Transparency and Risk Management
The Aarhus convention grants the public rights regarding access to information, public participation and access to justice in governmental decision making processes. This act gives European citizens, permanent residents and any individual or corporation present in Europe, the right to access records under the control of the Polo Centre of Sustainability, subject to limited and specific exceptions. The Convention provides every individual who is a European citizen or a permanent resident with a right to access their personal information held by the Polo Centre of Sustainability and protection of that information against unauthorized use and disclosure. The Polo Centre of Sustainability has an integrated series of strategic, programmatic and operational processes to manage the risk that is inherent in its work. This includes: (1) at the strategic level and senior management review and discuss the Centre’s business risk profile; (2) at the programmatic level, the Centre’s projects are assessed for risk before approval and risks are monitored throughout the project life cycle; and (3) at the operational level, the Centre assesses its grantee institutions for financial and administrative risk and applies appropriate monitoring and reporting controls.