EU accounts not signed off for 14th straight year

I see that the EU's accounts have not been signed off for the fourteenth year running. William Hague says that this is "completely unacceptable"; I would say it is worse than that, it is a f***ing disgrace. The UK pays large sums of money into the EU budget which seems to be spent on French farmers, Spanish infrastructure and jobs for Belgians.

I can't find any mention of this fact on the BBC, but then they are too busy documenting every tiny twist in the Gordon Brown story, promoting Barack Obama, pushing the man made climate change agenda and generally screwing up the UK.

What confuses me is that if a UK company failed to have its accounts signed off by an independent accountant then HMRC and/or Companies House would have their corporate guts for garters. However in the EU's case nothing happens. What are the discrepancies that prevent the Auditors from signing off the accounts? Has money gone missing? Have the EU still not managed to install a system of double-entry bookkeeping? Has any money disappeared due to fraud? Who is responsible for the discrepancies, someone must be?

Two people who tried to blow the whistle on EU fraud and suffered as a result are Marta Andreasen and Jose Sequeira - do look them up on the internet, the cases are real eye-openers.