Audits find flaws in U.S. handling of Iraq deals, $100 Million unaccounted for

patrick · 05-05-2005, 01:54 PM

this is money that could have gone to fight freedom haters!

-
http://news.yahoo.com/s/nm/20050504/...s_dc&printer=1

The United States has carelessly, and possibly fraudulently, handled some Iraqi money meant for rebuilding and poorly managed billions of dollars of U.S.-funded contracts, said U.S. audits released on Wednesday.

In one area of Iraq alone, nearly $100 million in cash used for rebuilding was unaccounted for. Incompetence by U.S. procurement staff ranged from contractors being paid twice to files being misplaced.

Two audits by the U.S. Special Inspector General for Iraq Reconstruction found flaws in how U.S. government and military officials ran contracts paid for by the Development Fund for Iraq, Iraqi money entrusted to the United States after the 2003 invasion.

A third audit looked at a small sample of U.S.-funded projects paid for with $18.4 billion appropriated by Congress to rebuild Iraq and found sloppy and disorganized administration of some of those deals.

"There was no assurance that fraud, waste and abuse did not occur," all three audits said.

The most scathing criticism was in audits of the development fund, made up of proceeds from Iraqi oil sales, frozen assets from foreign governments and surplus from the U.N. Oil for Food program. Handling of that fund has already come under fire by previous U.S.- and U.N.-mandated audits.

An audit released by the Iraq reconstruction inspector in January concluded the U.S. had not properly safeguarded about $8.8 billion of Iraq's own money in the development fund.

Of concern in the new audits was poor oversight of hundreds of millions of dollars of cash used to pay contractors.

One audit looking at about $119.9 million in DFI cash paid out in south-central Iraq, the account manager could not properly account for over $96.6 million in cash.

FRAUD SUSPECTED

"During this audit we found indications of potential fraud and referred these matters to the Assistant Inspector General for Investigations (for reconstruction)," the report said.

Examples of sloppiness *******d 645 transfers of more than $23 million in cash using the wrong form; one contractor being paid twice for the same work, and 10 payments amounting to $324,500 were submitted for canceled contracts.

Two payment officers with cash account balances of $777,050 and $715,000 left Iraq without clearing their balances with the account manager. An attempt was made to remove the outstanding balances by "simply washing accounts," the report said.

Democratic Sen. Russ Feingold (news, bio, voting record) of Wisconsin criticized the "disorganized, sloppy management" of Iraq rebuilding deals.

"Billions of dollars, the success of the stabilization mission and U.S. credibility are at stake," Feingold said.

The military agreed with most of the recommendations made in the cash audit, and Col. Thomas Stefanko said in a written response that "extensive corrective actions" have been taken in the past four months to resolve problems raised by the audit.

Another audit looked at how DFI contracts were administered by the Iraq Project and Contracting Office, which is responsible for most of the contracts paid for by $18.4 billion.

Auditors said they could not identify the total value of contracts financed by the fund and said the contracting office lacked the necessary controls and adequate documentation to effectively perform its responsibilities.

In its written response, the contracting office acknowledged confusion in the early management of DFI contracts but said new controls were now in place.

"We have taken many corrective actions and will continue to do so," said Maj. Gen. Daniel Long, head of the office.

cunt fuckula · 05-05-2005, 01:56 PM

WHAT, USA CAN'T DO WRONG!! WHAT THE FUCK IS THIS?!??! CONTROVERSIAL SUPER INTELLECTUAL BULLSHIT?!?!?!

GlasgowKiss · 05-05-2005, 01:57 PM

Quote:

Originally posted by cunt fuckula
WHAT, USA CAN'T DO WRONG!! WHAT THE FUCK IS THIS?!??! CONTROVERSIAL SUPER INTELLECTUAL BULLSHIT?!?!?!

Quit parodying beautifulloser or she'll ban you. She claims she cant, but watch her enemies fall one by one....

Isle · 05-05-2005, 01:58 PM

Quote:

Originally posted by GlasgowKiss

Quit parodying beautifulloser or she'll ban you. She claims she cant, but watch her enemies fall one by one....

oi bumbandit, r u coming to billy's sho.

cunt fuckula · 05-05-2005, 01:58 PM

Quote:

Originally posted by GlasgowKiss

Quit parodying beautifulloser or she'll ban you. She claims she cant, but watch her enemies fall one by one....

oops, in case she reads this, it wasn't supposed to be an insult against her, but an attack on pattrick.

hey patrick, how much money have you given to charity?

patrick · 05-05-2005, 01:59 PM

$100 million is a lot of money, guys

GlasgowKiss · 05-05-2005, 01:59 PM

Quote:

Originally posted by Isle

oi bumbandit, r u coming to billy's sho.

I have two answers to that question. Yes and no. However the latter is the only correct one.

GlasgowKiss · 05-05-2005, 02:01 PM

Quote:

Originally posted by cunt fuckula

oops, in case she reads this, it wasn't supposed to be an insult against her, but an attack on pattrick.

hey patrick, how much money have you given to charity?

Stop clarifying. Im trying to spread as much misinformation as possible here.

Ill start netphoria war 4. And there is nothing you guys can do to stop me.

cunt fuckula · 05-05-2005, 02:04 PM

Quote:

Originally posted by GlasgowKiss

Stop clarifying. Im trying to spread as much misinformation as possible here.

Ill start netphoria war 4. And there is nothing you guys can do to stop me.

now you've given everything away, like a true james bond villian. take him away beautiful loser.

GlasgowKiss · 05-05-2005, 02:06 PM

Quote:

Originally posted by cunt fuckula

now you've given everything away, like a true james bond villian. take him away beautiful loser.

Let me remind you of the thread title "Audits find flaws in U.S. handling of Iraq deals, $100 Million unaccounted for".

Do you honestly think Beautiful Loser or anyone else, barring a few politics board regulars, are going to read this thread?

Bwahahahahhaha.

Debaser · 05-05-2005, 02:08 PM

Quote:

Originally posted by patrick
$100 million is a lot of money, guys

Chump change.

How about $9 Billion?

http://edition.cnn.com/2005/WORLD/me...30/iraq.audit/

BiIly Corgan · 05-05-2005, 02:08 PM

Quote:

Originally posted by patrick
$100 million is a lot of money, guys

ain't but chump change to me

patrick · 02:13 PM

Quote:

Originally posted by cunt fuckula

hey patrick, how much money have you given to charity?

i haven't, because i don't feel that i'm in a financial situation where i can freely do that

i have rescued pets from animal shelters and donated things to thrift stores and contributed to public radio, though. not that those are the same.

why?

edit: i've also worked with charities and charity events, but never contributed directly

pee pee colada · 05-05-2005, 02:15 PM

Quote:

Originally posted by GlasgowKiss

Do you honestly think Beautiful Loser or anyone else, barring a few politics board regulars, are going to read this thread?

i read it.

GlasgowKiss · 05-05-2005, 02:17 PM

Quote:

Originally posted by pee pee colada
i read it.

You're special.

pee pee colada · 05-05-2005, 02:18 PM

Quote:

Originally posted by GlasgowKiss

You're special.

well i'm not a politics board regular.

GlasgowKiss · 05-05-2005, 02:19 PM

Quote:

Originally posted by pee pee colada
well i'm not a politics board regular.

You are now.

pee pee colada · 05-05-2005, 02:19 PM

wow. this is horseshit. why do we have a politics board?

patrick · 05-05-2005, 02:26 PM

because things that actually matter are less important than who came on kristen today

GlasgowKiss · 05-05-2005, 02:41 PM

I can see its use during the election times when the general chat board would get spammed, but now it just allows many important threads to go unread because they must be posted over here.

Edit: Fuck im useless and stating the obvious today. Ill try and fuck off.

05-05-2005, 01:54 PM	#1
patrick Minion of Satan Posts: 9,521	Audits find flaws in U.S. handling of Iraq deals, $100 Million unaccounted for this is money that could have gone to fight freedom haters! - http://news.yahoo.com/s/nm/20050504/...s_dc&printer=1 The United States has carelessly, and possibly fraudulently, handled some Iraqi money meant for rebuilding and poorly managed billions of dollars of U.S.-funded contracts, said U.S. audits released on Wednesday. In one area of Iraq alone, nearly $100 million in cash used for rebuilding was unaccounted for. Incompetence by U.S. procurement staff ranged from contractors being paid twice to files being misplaced. Two audits by the U.S. Special Inspector General for Iraq Reconstruction found flaws in how U.S. government and military officials ran contracts paid for by the Development Fund for Iraq, Iraqi money entrusted to the United States after the 2003 invasion. A third audit looked at a small sample of U.S.-funded projects paid for with $18.4 billion appropriated by Congress to rebuild Iraq and found sloppy and disorganized administration of some of those deals. "There was no assurance that fraud, waste and abuse did not occur," all three audits said. The most scathing criticism was in audits of the development fund, made up of proceeds from Iraqi oil sales, frozen assets from foreign governments and surplus from the U.N. Oil for Food program. Handling of that fund has already come under fire by previous U.S.- and U.N.-mandated audits. An audit released by the Iraq reconstruction inspector in January concluded the U.S. had not properly safeguarded about $8.8 billion of Iraq's own money in the development fund. Of concern in the new audits was poor oversight of hundreds of millions of dollars of cash used to pay contractors. One audit looking at about $119.9 million in DFI cash paid out in south-central Iraq, the account manager could not properly account for over $96.6 million in cash. FRAUD SUSPECTED "During this audit we found indications of potential fraud and referred these matters to the Assistant Inspector General for Investigations (for reconstruction)," the report said. Examples of sloppiness *******d 645 transfers of more than $23 million in cash using the wrong form; one contractor being paid twice for the same work, and 10 payments amounting to $324,500 were submitted for canceled contracts. Two payment officers with cash account balances of $777,050 and $715,000 left Iraq without clearing their balances with the account manager. An attempt was made to remove the outstanding balances by "simply washing accounts," the report said. Democratic Sen. Russ Feingold (news, bio, voting record) of Wisconsin criticized the "disorganized, sloppy management" of Iraq rebuilding deals. "Billions of dollars, the success of the stabilization mission and U.S. credibility are at stake," Feingold said. The military agreed with most of the recommendations made in the cash audit, and Col. Thomas Stefanko said in a written response that "extensive corrective actions" have been taken in the past four months to resolve problems raised by the audit. Another audit looked at how DFI contracts were administered by the Iraq Project and Contracting Office, which is responsible for most of the contracts paid for by $18.4 billion. Auditors said they could not identify the total value of contracts financed by the fund and said the contracting office lacked the necessary controls and adequate documentation to effectively perform its responsibilities. In its written response, the contracting office acknowledged confusion in the early management of DFI contracts but said new controls were now in place. "We have taken many corrective actions and will continue to do so," said Maj. Gen. Daniel Long, head of the office.

05-05-2005, 01:56 PM	#2
cunt fuckula Apocalyptic Poster Location: CAST3LVANIA1!1!11 LOL Posts: 1,092	WHAT, USA CAN'T DO WRONG!! WHAT THE FUCK IS THIS?!??! CONTROVERSIAL SUPER INTELLECTUAL BULLSHIT?!?!?!

05-05-2005, 01:59 PM	#6
patrick Minion of Satan Posts: 9,521	$100 million is a lot of money, guys

05-05-2005, 02:19 PM	#18
pee pee colada Demi-God Location: gayville!hahahahaha Posts: 424	wow. this is horseshit. why do we have a politics board?

05-05-2005, 02:26 PM	#19
patrick Minion of Satan Posts: 9,521	because things that actually matter are less important than who came on kristen today

05-05-2005, 02:41 PM	#20
GlasgowKiss Quaid Hates You Location: Hollywood Posts: 14,160	I can see its use during the election times when the general chat board would get spammed, but now it just allows many important threads to go unread because they must be posted over here. Edit: Fuck im useless and stating the obvious today. Ill try and fuck off.