Financial Management

The Financial Regulations of the European Maritime Safety Agency lay down detailed rules for the implementation of the financial regulation, as applicable to the budget of the European Maritime Safety Agency. These rules cover such areas as budgetary approval, accounting principles and procurement procedures.

EMSA's budgets, in common with EU institutions in general, follow an 'annuality principle': that is, they are approved each year by the Administrative Board, in cooperation with the European Commission and subject to European Parliament approval.