Money Managment in Iraq!

“What a laugh riot these guys provide for us.

I have no idea what we will do when there outta office!

Audit Shows $8.8B Missing in Iraq

Thursday, August 19, 2004 - FoxNews


WASHINGTON — A soon-to-be-released audit will show that at least $8.8 billion in Iraqi money that was given to Iraqi ministries by the former U.S.-led authority there cannot be accounted for, FOX News has confirmed.

And three senators want to know where the cash is.

The draft audit by the Coalition Provisional Authority's (search) inspector general chastises the CPA — formerly led by L. Paul Bremer — for "not providing adequate stewardship" of at least $8.8 billion from the Development Fund for Iraq. The audit is not expected to be released for at least two or three more weeks, possibly longer.

The audit was first reported on a Web site earlier this month by journalist and retired Col. David Hackworth. A U.S. official first confirmed to Reuters the contents of the leaked audit cited by Hackworth were accurate.

The development fund consists of proceeds from Iraqi oil sales, frozen assets from foreign governments and surplus from the U.N. Oil-for-Food (search) program. Its handling has already come under fire in a U.N.-mandated audit released last month, which found no evidence of spending fraud by the CPA but said there wasn't enough oversight to ensure money”

“Ya, let's find where this money went, and also the billions of bilked Oil For Food money by the United Nations. Curious stuff.”