Audit: $9 Billion Unaccounted for in Iraq

[Q]

Audit: $9 Billion Unaccounted for in Iraq

Sunday January 30, 2005 9:16 PM

AP Photo ANS101

By LARRY MARGASAK

Associated Press Writer

WASHINGTON (AP) - The U.S. occupation authority in Iraq was unable to keep track of nearly $9 billion it transferred to government ministries, which lacked financial controls, security, communications and adequate staff, an inspector general has found. The U.S. officials relied on Iraqi audit agencies to account for the funds but those offices were not even functioning when the funds were transferred between October 2003 and June 2004, according to an audit by a special U.S. inspector general.

The findings were released Sunday by Stuart Bowen Jr., special inspector general for Iraq reconstruction. Bowen issued several reports on the Coalition Provisional Authority (CPA), the U.S. occupation government that ruled Iraq from June 2003 to June 2004. The official who led the CPA, L. Paul Bremer III, submitted a blistering, written reply to the findings, saying the report had ``many misconceptions and inaccuracies,'' and lacked professional judgment.

Bremer complained the report ``assumes that Western-style budgeting and accounting procedures could be immediately and fully implemented in the midst of a war.''

The inspector general said the occupying agency disbursed $8.8 billion to Iraqi ministries ``without assurance the moneys were properly accounted for.''

U.S. officials, the report said, ``did not establish or implement sufficient managerial, financial and contractural controls.'' There was no way to verify that the money was used for its intended purposes of financing humanitarian needs, economic reconstruction, repair of facilities, disarmament and civil administration. --- http://www.guardian.co.uk/worldlatest/story/0,1280,-4766808,00.html

[Q]

1. 9 BILLION TAX DOLLARS...where did they go?

I wonder who is being paid off? Is the money going to 'off the books' black ops?

And Bush wants to throw another 80 billion down the rabbit hole?