Brexit & EconomyPoliticsUS fails to overhaul Iraq’s corrupt accounting system

US fails to overhaul Iraq's corrupt accounting system

Four-year project by US government to replace Saddam Hussein's accounting system - created for secrecy and control - has failed, an official report reveals

A US government project to overhaul the corrupt accounting system in place
during the Sadam Hussein era has failed – after four years and an investment of
more than $38m.

One of the objectives of the American occupation was to change the practices
that flourished under Sadam’s rule, and to establish accounting systems that
would ensure that oil revenues – which made up almost all of the government’s
budget – could not be diverted from government coffers.

The US Office of the Special Inspector General for Iraq Construction
yesterday announced in a report that the system the United States had chosen had
shown a ‘lack of understanding of the existing Iraq financial and business
processes,’ and had not taken root, the
New
York Times
reported
.

A deputy inspector, Ginger Cruz, said the new system had little impact on
Iraq’s financial systems and that the old system, which was created for secrecy
and control, remained in place.

Related Articles

Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

Brexit Financial Secretary to the Treasury on cryptocurrency, Brexit and taxing the digital economy

4w Alia Shoaib, Reporter
HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

Big Four HMRC’s refusal to raid top Tory donor Lycamobile to be investigated by MPs

4w Alia Shoaib, Reporter
Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

Budget Spring Statement 2018: Spring has sprung as chancellor finds his inner Tigger

2m Emma Smith, Managing Editor
Spring Statement live feed

Budget Spring Statement live feed

2m Emma Smith, Managing Editor
Spring Statement 2018: 5 things to look out for

Brexit & Economy Spring Statement 2018: 5 things to look out for

2m Alia Shoaib, Reporter
Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

Politics Financial Secretary to the Treasury on Brexit, Spring Statement, Making Tax Digital and Carillion

4m Emma Smith, Managing Editor
David Davis, Secretary of State for Exiting the European Union

Brexit & Economy David Davis, Secretary of State for Exiting the European Union

4m Alia Shoaib, Reporter
Philip Hammond, Chancellor of the Exchequer

Brexit & Economy Philip Hammond, Chancellor of the Exchequer

4m Alia Shoaib, Reporter