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Iraqi
interim prime minister Iyad Allawi, center, in front of Al-Doura
oil refinery in
Baghdad
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CAIRO,
June 22 (IslamOnline.net) - UN-mandated auditors chided the US-led
occupation authority over "fraudulent acts" in spending more
than 11 billion dollars of Iraqi oil revenues, reported a leading
British newspaper on Monday, June 21.
In
its first interim report, obtained by the Financial Times,
KPMG, an international cooperative and a leading provider of legal and
financial advisory services, also faulted the US-run Coalition
Provisional Authority's bookkeeping.
"The
CPA does not have effective controls over the ministries' spending of
their individually allocated budgets, whether the funds are direct
from the CPA or via the ministry of finance."
The
independent auditors, answerable to the International Advisory and
Monitoring Board - set up by the UN Security Council in May last year
to oversee occupation spending - complained of "resistance"
from the CPA to their work.
The
Development Fund for
Iraq
is in charge of money left over from the oil-for-food program, frozen
assets and revenue from the sale of crude oil.
It
has taken in 20.2 billion dollars since last May and has disbursed
11.3 billion, with 4.6 billion left in outstanding commitments.
Iraq
has the world's second-largest oil reserves.
US
occupation appointed in May of last year a new
top management team to run the Iraqi oil ministry under the
former president of Shell Oil.
Days
later, the United Nations Security Council voted
to lift crippling sanctions imposed on
Iraq
in 1990 and put its economy under the broad control of the US-led
occupying forces.
