I. Objectives and Principles 

The European Organization of Regional External Public Finance Audit Institutions (EURORAI) shall have the following objectives:

1. To foster and promote cooperation among audit bodies in the various sectors in which they carry out their activities.
   
   
2. To promote exchanges of knowledge and experience in public finance auditing.
   
   
3. To keep its members informed about the legislation, organization, and operation of the various public sector audit bodies.
   
   
4. To promote studies relating to the audit of public finances.
   
   
5. To foster exchange programmes and training courses for the officials of the institutions which are members of EURORAI.
   
   
6. To establish a proper definition of the terminology used in each country in order to facilitate the harmonization of public finance auditing methods.

1. All regional external public finance audit institutions which are members of EURORAI shall be regarded as equal.
   
   
2. The institutions shall be free to decide whether to be members or to withdraw.
   
   
3. The legal status of each body shall be respected.