Treaty on the Functioning of the European Union Treaty on the Functioning of the European Union The Treaty on the Functioning of the European Union (2007) is one of two primary Treaties of the European Union, alongside the Treaty on European Union (TEU). Originating as the Treaty of Rome, the TFEU forms the detailed basis of European Union law, by setting out the scope of the EU's authority to legislate and the principles of law in those areas where EU law operates. The TFEU originated as the treaty establishing the European Economic Community (the EEC treaty), signed in Rome on 25 March 1957. On 7 February 1992, the
European Economic Community it ensured that taxpayer funds from the Community budget have been correctly spent. The court provided an audit report for each financial year to the Council and Parliament and gives opinions and proposals on financial legislation and anti-fraud actions. It is the only institution not mentioned in the original treaties, having been set up in 1975. At the time of its abolition, the European Community pillar covered the following areas; European Economic Community The European Economic Community (EEC) was a regional organisation which aimed to bring about economic integration among its member states. It was created by the Treaty of