Iraq (Interium Gov.) Oil Sales Concern Security Council

[DoYouEverWonder]

June 20, 2005, 10:03 PM EDT

UNITED NATIONS -- Members of the U.N. Security Council on Monday expressed concern over Iraq's handling of oil sales since the transfer of power from the U.S.-led coalition authority, after an audit reported shoddy accounting and mismanagement.

The audit, by accounting firm KPMG, had found that Iraq's interim government mishandled about $100 million in oil money meant for development in the six months after they took power from the U.S. government on June 28 last year.

Members of the council got a briefing from Jean-Pierre Halbwachs, the outgoing controller and head of the International Advisory and Monitoring Board, which the council set up in 2003 to ensure the transparent operation of the Development Fund for Iraq.

<snip>

The audit had also found the now-defunct U.S. Coalition Provisional Authority used questionable accounting practices with money from the Development Fund for Iraq.

http://www.newsday.com/news/nationworld/nation/wire/sns-ap-un-iraq-oil,0,3055359.story?coll=sns-ap-nation-headlines

[Oversea Visitor]

1. Go UN time for some shit back in their face time

Wash all the laundry damn it
Need some nice clean smelling clothes to wear.
Hate that damn stink at moment.

[Theduckno2]

2. The shoe is on the other foot now....

For years we were pummelled with the mantra that the Republicans were the party of fiscal responsibilty, not like the "tax and spend Democrats". This Administration racks up deficits by giving tax breaks to the wealthy and decides (with a war on) to go to Mars. Apparently they didn't develop an effective accounting plan for Iraq, and they didn't see to it that the Iraqi government developed one either. Fiscal responsibility? I wouldn't trust them with the money in the "Take a penny, Leave a penny" tray at my local checkout line! :)

[Kittycat]

3. Jeebus!!! More and more everyday! Why is it that...

The only place I can read or hear anything is on DU & AAR???

[daleo]

4. Number 657 in Bush's transformation into Saddam

Now he has his own "oil for food" scandal.

[jmcon007]

5. Has everyone forgotten the $9 BILLION of Iraqi money the US "lost"?