1. the control of the implementation of the budget of the Union and of the European Development Fund, and the decisions on discharge to be taken by Parliament, including the internal discharge procedure and all other measures accompanying or implementing such decisions;
2. the closure, presenting and auditing of the accounts and balance sheets of the Union, its institutions and any bodies financed by it, including the establishment of appropriations to be carried over and the settling of balances;
3. the control of the financial activities of the European Investment Bank;
4. monitoring of the cost-effectiveness of the various forms of Union financing in the implementation of the Union’s policies, involving, upon the Committee on Budgetary Control’s request, the specialised committees and acting, upon the Committee on Budgetary Control’s request, in cooperation with the specialised committees for the examination of special reports of the Court of Auditors;
5. relations with the European Anti-Fraud Office (OLAF), consideration of fraud and irregularities in the implementation of the budget of the Union, measures aimed at preventing and prosecuting such cases, the strict protection of the Union’s financial interests and the relevant actions by the European Public Prosecutor in this field;
6. relations with the Court of Auditors, the appointment of its members and consideration of its reports;
7. the Financial Regulation as far as the implementation, management and control of the budget are concerned.