space
Home
Purpose
Members
space
Meetings New!
Schedule
Minutes
space
Press Releases New!
space
Press Briefings
Transcripts and Webcasts
space
Audit Reports New!
Special Audit Reports
DFI Audit Reports
Financial Information
space
IAMB Reports New!
Final report of the IAMB issued on June 30, 2011
First interim IAMB report issued on Dec. 14, 2004
Second interim IAMB report issued on Dec. 18, 2006
Third interim IAMB report issued on Feb. 29, 2008
space
Documentation New!
Request for Proposal for the 2011 audit of the DFI and successor account, issued by COFE on June 23, 2011
Statement of Work for the 2011 audit of the DFI and successor account, issued by COFE on June 23, 2011
Report from the Committee of Financial Experts (COFE) on follow up of IAMB recommendations presented to the IAMB Meeting April 27-28, 2011
Report from the Committee of Financial Experts (COFE) on the status of follow up of KPMG's 2009 audit presented to the IAMB Meeting April 27-28, 2011
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of January and February 2011
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of March and April 2011
SIGIR Audit Report 10-020 July 27, 2010: Development Fund for Iraq: Department of Defense Needs to Improve Financial and Management Controls
Response from PricewaterhouseCoopers regarding net proceeds of oil export sales
Letters from United Nations and COFE to PricewaterhouseCoopers regarding net proceeds of oil export sales
UNSC Resolution 1956
Terms of Reference after January 7, 2011
Report from the Committee of Financial Experts (COFE) on follow up of audit recommendations presented to the IAMB Meeting January 6-7, 2011
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of September and October 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of November and December 2010
Third Report of the UN Secretary General to the UN Security Council under UNSCR 1905, November 2010
Third Report of the Government of Iraq to the UN Security Council under UNSCR 1905, November 2010
Report from the Committee of Financial Experts (COFE) on follow up of audit recommendations presented to the IAMB Meeting October 14-15, 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of May and June 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of July and August 2010
Second Report of the UN Secretary General to the UN Security Council under UNSCR 1905, July 2010
Second Report of the Government of Iraq to the UN Security Council under UNSCR 1905, July 2010
Committee of Financial Experts (COFE) Report on its action plan for the remainder of 2010 presented to the IAMB Meeting on April 28-29, 2010
Report from the Committee of Financial Experts (COFE) on follow up of audit recommendations presented to the IAMB Meeting April 28-29, 2010
Oil Metering Updated Ministry of Oil Plan presented to the IAMB Meeting on April 28-29, 2010
Status Report from Ministry of Oil on oil meters at end February 2010 Presented to the IAMB Meeting on April 28-29, 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of January and February 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of March and April 2010
First Report of the UN Secretary General to the UN Security Council under UNSCR 1905, April 2010
First Report of the Government of Iraq to the UN Security Council under UNSCR 1905, April 2010
Committee of Financial Experts (COFE) High Level Summary Action Plan for 2010, presented to the IAMB Meeting on January 31, 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their activities for the months of November and December 2009
Minutes of the Committee of Financial Experts (COFE) Meeting Held on December 31, 2009
UNSC Resolution 1905
Terms of Reference after January 31, 2010
Report from the Committee of Financial Experts (COFE) on follow up of audit recommendations presented to the IAMB Meeting December 16, 2009
Letter from the Committee of Financial Experts (COFE) to the Ministry of Oil on the oil metering system presented to the IAMB Meeting December 16, 2009
Report from the Government of Iraq on the status and plan of installation of oil meters presented to the IAMB Meeting December 16, 2009
Report from the Committee of Financial Experts (COFE) to the IAMB Meeting July 22-23, 2009
Report from the Board of Supreme Audit (BSA) on their review of the 2008 KPMG audit observations presented to the IAMB Meeting July 22-23, 2009
BSA work plan for 2009
COFE meeting minutes July 2009
COFE meeting minutes April 1, 2009
COFE meeting minutes February 5, 2009
COFE meeting minutes January 13, 2009
Report of the Committee of Financial Experts on its 2008 activities and 2009 Work Program, presented to the IAMB Meeting on April 2-3, 2009
Presentation by the Iraqi Ministry of Oil to the IAMB Meeting on April 2-3, 2009
Iraqi Code of Measurement of Hydrocarbon Fuels
Report of the Committee of Financial Experts on the implementation of DFI audit recommendations (2003 to 2007), presented to the IAMB meeting on October 20-21, 2008
United Nations Security Council Resolution 1790
United Nations Security Council Resolution 1723
Confirmation by the Government of Iraq of the Creation of an Iraqi Oversight Body to Take Over When IAMB Ceases in December 2006
Update from the Iraqi Representative on the Establishment of an Iraqi Oversight Body to Succeed the IAMB
Update from the Iraqi Representative on the Metering of Iraqi Crude Oil
Update from the President of the Board of Supreme Audit of Iraq on Earlier Recommendations
Letter from the Minister of Finance to the Office of the Prime Minister of Iraq dated July 11, 2006, together with a covering note from the IAMB Representative, regarding the Successor Iraqi Oversight Body for the DFI
Letter from the Permanent Mission of the Republic of Iraq to the UN, dated March 22, 2006, regarding oil metering
Letter from the US Department of Defense, dated January 26, 2006, regarding the settlement of the DFI funded task orders under the KBR contract
Report by the Government of Iraq on the Implementation of Recommendations from the Previous Audit, Presented to the IAMB Meeting on January 23, 2006
Report by the Government of Iraq on the Implementation of Recommendations from the Previous Audits, Presented to the IAMB Meeting on October 4–5, 2005
Statement of Work—Special Audit of Sole Sourced Contracts
Audit of DFI—Request for Proposal—for the period ended December 2004
Terms of Reference after April 2, 2009
Terms of Reference after January 8, 2008
Terms of Reference after December 11, 2006
Terms of Reference—After November 8, 2005
Terms of Reference—After June 28, 2004
Terms of Reference—Before June 28, 2004
Rules of Procedure—After June 28, 2004
Rules of Procedure—Before June 28, 2004
UNSC Resolution 1483
UNSC Resolution 1546
United Nations Security Council Resolution 1637
space
Arabic
Documentation

Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of September and October 2010
Bi-monthly Report from the Committee of Financial Experts (COFE) to the IAMB on their Activities for the Months of November and December 2010
Update from the President of the Board of Supreme Audit of Iraq on earlier recommendations
Terms of Reference
UNSC Resolution 1483
UNSC Resolution 1546
Special Audit Reports
Audit Reports
space
Links
space
Contact
space
Use the free Download the free Adobe Acrobat Reader
to view the PDF files

International Advisory and Monitoring Board of the Development Fund for Iraq
Press Release
October 27, 2008
Statement by the International Advisory and Monitoring Board of the Development Fund for Iraq

The International Advisory and Monitoring Board (IAMB) of the Development Fund for Iraq (DFI) met in Paris on October 20-21, 2008 and issued the following statement:


"The IAMB met to continue its oversight role over the use of resources of the DFI, which is the principal repository for Iraq's oil-export receipts, and oversee audits of the DFI in line with its mandate under UN Security Council Resolution 1790.

"In accordance with the IAMB Terms of Reference, the nomination and appointment by the Government of Iraq of the DFI external auditor is subject to approval by the IAMB. Representatives of the Government of Iraq and the Committee of Financial Experts (COFE) had earlier briefed the IAMB on the evaluation process to select an external audit firm to conduct an audit of the resources and disbursements of the DFI. The IAMB approved the process and concurred with the recommendation in August 2008 of the Government of Iraq to appoint KPMG to conduct the 2008 audits of the DFI. The IAMB agreed that the 2008 audit of the DFI should cover the period January 1 to December 31, 2008 with an interim review for the period from January 1, 2008 to June 30, 2008. The interim review has taken place under the oversight of the IAMB, while the finalization of the 2008 audits of the DFI is expected to be undertaken under the oversight of the COFE in 2009.

"The IAMB reviewed a draft interim Statement of Cash Receipts and Payments for the DFI, and was briefed by KPMG, the newly-appointed auditor, on the results of their work for the period from January 1, 2008 to June 30, 2008. The report reiterates earlier findings about the completeness of revenues in the DFI Statement of Cash Receipts and Payments. A summary of the results of the KPMG interim review is available on the IAMB website (www.iamb.info).

"The representatives of the Government of Iraq and of the Iraqi Board of Supreme Audit (BSA) reported on the continuing follow up on outstanding audit recommendations. The IAMB took note of some progress but remained concerned at the relatively slow implementation rate and the length of time taken to address earlier audit findings, particularly at the spending ministries. The IAMB urges the BSA, in conjunction with the COFE, to continue the strong focus on strengthening the system of internal controls and coordinate and actively monitor and follow-up progress by the Government of Iraq to timely monitor and resolve the control weaknesses and build up the necessary capacity.

"The IAMB continues to actively work alongside COFE. COFE is already meeting regularly, considers the audit reports and has embarked on a comprehensive follow-up of earlier recommendations together with the BSA. COFE continues to regularly submit its reports and 2 minutes of meetings to the Council of Ministers and publishes them on COFE's website (www.cofe-iq.net).

"The IAMB's mandate is due to expire at the end of 2008. The IAMB believes that COFE is ready to assume the oversight responsibilities for the DFI and will write to the Government of Iraq proposing that COFE assume the IAMB's oversight role if an extension of UNSCR 1790 is sought.

"The IAMB discussed a draft report on the operations of the IAMB since its establishment in 2003. The final meeting of the IAMB is scheduled for December 2008, at which time a report will be issued and a press briefing will be held."