15 bln dlrs in US Iraq spending unaccounted for: reports

0 Comments | AFP, May, 2008

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...