15 bln dlrs in US Iraq spending unaccounted for: reports

WASHINGTON (AFP) — The Pentagon cannot account for nearly 15 billion dollars in payments for goods and services in Iraq, according to an internal audit which members of Congress blasted Friday as a "shocking" accountability failure.

Of 8.2 billion dollars in US taxpayer-funded defense contracts reviewed by the defense department's inspector general, the Pentagon could not properly account for more than 7.7 billion dollars.

The lack of accountability of the funds, intended for purchases of weapons, vehicles, construction equipment and security services, amounted to a 95 percent failure rate in basic accounting standards, according to the report.

"We estimated that the army made 1.4 billion dollars in commercial payments that lacked the minimum documentation for a valid payment, such as properly prepared receiving reports, invoices, and certified vouchers," deputy inspector general Mary Ugone told a Congressional committee Thursday.

"We also estimated that the army made an additional 6.3 billion dollars of commercial payments that met the 27 criteria for payments but did not comply with other statutory and regulatory requirements."

The Pentagon also was found to have given away Continue reading the remaining 54% ...