Under European Union (EU) law, Monitoring Committees (MCs) are charged with overseeing the implementation of Operational Programmes. Despite their potential to influence the process of fund disbursement, relatively little is known about the Committees� operation and their impact in the new member states. This article is an empirical study of how three MCs actually work in Hungary and Slovakia. We find that whilst these bodies have relatively limited oversight capacities and are characterised by a primary concern with procedural compliance with EU requirements, nevertheless, they have an important role in providing significant opportunities for learning, information exchange, expert input and networking.