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Iraq
UN claims deficiency in monitoring Iraqi oil proceeds
2008-06-16
Now they notice. Funny they never caught on to any financial hanky-panky when Saddam was in charge ...
Baghdad, Jun 14, (VOI) – The U.N. Secretary General's representative on the International Advisory and Monitoring Board (IAMB), Warren Sach, said that the financial monitoring of Iraqi oil revenues is "deficient," according to a report released by the United Nations Media Center. "The United Nations representative on the international body monitoring the handling of more than $100 billion in proceeds from sales of Iraqi oil says financial controls are 'deficient' although progress has been made in some areas," according to the report, which was published on the official website of the world organization.

"He said that audit reports on DFI have highlighted weaknesses in internal financial controls, including incomplete record keeping at the Iraqi Ministry of Finance, lack of a comprehensive oil metering system, sale of oil and oil products outside of the DFI, incomplete contract information associated with US agenciesÂ’ contracts and bartering," the report noted.

"The UN comptroller also reported that fewer than 15 percent of previous recommendations to Iraqi spending ministries had been implemented. While noting that some progress had been made, 'further measures to strengthen the internal control framework are necessary,' Mr. Sach added," according to the report.

"The IAMB aims to ensure that the DFI (The Development Fund for Iraq) is used in a transparent manner for the benefit of the Iraqi people and that export sales of petroleum were consistent with international market best practices," the report quoted Sach as saying.
Posted by:Steve White

#6  They tried to have

No Warin return foroil.
Posted by: Bright Pebbles   2008-06-16 17:20  

#5  Their bribes are 'deficient'. Oh for the glory days of Oil-for-Palaces....
Posted by: CrazyFool   2008-06-16 08:30  

#4  They're just pissed at not getting a big enough cut. A couple more % will ease their pain.
Posted by: Spot   2008-06-16 08:03  

#3  Nah, they can claim it is "deficient" so they can come in, take over and skim the profits.
Posted by: DarthVader   2008-06-16 07:14  

#2  Duh! Are those the clowns who indulged the Rwanda massacres?
Posted by: McZoid   2008-06-16 01:48  

#1  For pity's sake, this is the pot calling the kettle black after the bull has left the barn and the barn door is not shut and they couldn't hit the bull in the ass with a bass fiddle or a shotgun! And I haven't even gotten to any of the barnyard epithets applicable to "UN oversight"!
Posted by: Harcourt Jush7795   2008-06-16 01:20  

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