The General Accounting Office has been asked by two Democratic congressmen to look into the awarding of contracts.
The move comes after controversy surrounded the winning of contracts by Halliburton, the company where vice-president Dick Cheney once worked.
According to reports in the Financial Times USAid, the body placed in charge of rebuilding Iraq, will also award contracts to foreign companies.
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester