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29 Jul 2010
The US department of defence has brought in forensic accountants to track down missing oil revenue intended for reconstruction following the invasion of Iraq.
An official audit found that $8.1bn (£5.2bn) of the $9.1bn revenue from Iraq’s oil allocated for the reconstruction effort during 2004-07 had vanished.
The report from the Special Inspector General for Iraq reconstruction unearthed the missing billions, having previously criticised the accounting by senior officials in the past, reports the Guardian.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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