15 December 2004 -- A UN watchdog found irregularities in Iraq's oil-export sales under U.S.-led authorities between May 2003 and June 2004.
The International Advisory and Monitoring Board for Iraq (IAMB) says the irregularities include inadequate controls of extraction, use of noncompetitive bidding, and of barter transactions.
In its report released yesterday, the IAMB said it had also met delays in separate audits on sole-sourced contracts from the U.S. Defense Contract Audit Agency.
The board said it had requested the "special audits" after finding that some contracts using Development Fund for Iraq funds had been awarded to a Halliburton subsidiary without competitive bidding.
Since the U.S.-led war on Iraq in March 2003, Halliburton, the U.S. oil-services giant once run by U.S. Vice President Dick Cheney, has won some $10 billion in contracts to projects in Iraq. It has been accused of accounting problems and overcharging.
(AFP)
[For the latest news on Iraq, see RFE/RL's webpage on "The New Iraq".]
In its report released yesterday, the IAMB said it had also met delays in separate audits on sole-sourced contracts from the U.S. Defense Contract Audit Agency.
The board said it had requested the "special audits" after finding that some contracts using Development Fund for Iraq funds had been awarded to a Halliburton subsidiary without competitive bidding.
Since the U.S.-led war on Iraq in March 2003, Halliburton, the U.S. oil-services giant once run by U.S. Vice President Dick Cheney, has won some $10 billion in contracts to projects in Iraq. It has been accused of accounting problems and overcharging.
(AFP)
[For the latest news on Iraq, see RFE/RL's webpage on "The New Iraq".]