This briefing from the Open Society Iraq Revenue Watch reviews the latest audits by the International Advisory and Monitoring Board for Iraq and the Coalition Provisional Authority Inspector General (CPA-IG), both of which reveal hundreds of irregularities in the U.S.-led occupation authority's management of Iraqi revenues, and identify serious weaknesses in Iraq's financial management systems.
These audits and others show that the legacy of CPA accounting practices is a poor model for present and future Iraqi governments. It represents a failure to demonstrate by example the importance of transparent and responsible management and expenditure of public revenues.