On 14 January 1999 the European Parliament adopted its resolution on improving the financial management of the Commission, calling inter alia ’for a committee of independent experts to be convened under the auspices of the Parliament and the Commission’ (B4-0065, 0109 and 0110/99).

On 27 January 1999 the Conference of Presidents of the European Parliament considered and approved a "Note on the Committee of Independent Experts", fixing the composition and terms of reference of the Committee of Independent Experts. At the same meeting, the President of the Commission gave his agreement to the composition and terms of reference of the Committee of Independent Experts.

In a letter to the President of the European Parliament dated 1 February 1999, the President of the Commission confirmed the agreement of the Commission to the composition and terms of reference of the Committee of Independent Experts.

On 2 February 1999 the Committee of Independent Experts held its initial meeting and appointed Mr André MIDDELHOEK as its chairman.

On 15 March 1999 the Committee submitted its first report to the President of the European Parliament and the President of the European Commission.