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Keyword: iraqoilfunds

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  • No Evidence of Fraud in Iraq Oil Funds -- Watchdog

    07/15/2004 4:14:44 PM PDT · by TexKat · 42 replies · 3,144+ views
    Reuters ^ | 7/15/04 | Lesley Wroughton
    WASHINGTON (Reuters) - An international audit released on Thursday showed no evidence of fraud in the spending of Iraq's oil money by the U.S.-led authority that ran the country after last year's invasion. But the interim audit said controls by the Coalition Provisional Authority over Iraq's oil revenues were not sufficient to ensure that all spending was made for the purposes intended. The audit was requested by the International Advisory and Monitoring Board (IAMB), which includes the United Nations, the World Bank and the International Monetary Fund, was part of its U.N.-mandated task of watching over Iraq's oil revenues. The...