PracticeAuditAuditors to supervise Iraqi oil revenues

Auditors to supervise Iraqi oil revenues

The United Nations is looking to appoint auditors to an international monitoring board to supervise use of Iraqi oil revenues to pay for rebuilding the country.

Link: IGM remains hopeful of Iraq tax concessions

A UN resolution last week granted control of Iraq?s oil revenues to the US and UK coalition until a new government is formed. The revenues will be deposited in a development fund for Iraq, under supervision of the international monitoring board.

The UN has added £1bn to ensure aid will arrive soon. Paul Bremer, US ambassador to Iraq, witnessed the dredging of Umm Qasr, the seaport set to become one of the first facilities to be rebuilt with revenues.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

3d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter