Level of error (and residual error rate)

The best estimation by the authorising officer, taking into account all relevant information available and using professional judgement, of the expenditure or revenue found to be in breach of applicable regulatory and contractual provisions at the time the financial operations were authorised. The level of error is measured at various moments in time: • At the time of payment, when no corrective measures have been yet implemented; • At the time of reporting, when some corrective measures have been implemented but others will be implemented in successive years • At the time of closure, when all corrective measures will have been implemented.