Accessibility links

Breaking News

Internal UN Audits Reveal Mismanagement, Lack of Oversight

An independent commission charged with investigating the Iraqi oil-for-food program administered by the United Nations says there was widespread mismanagement of the $64 billion program.

Former U.S. Federal Reserve chairman Paul Volcker, who heads the commission, says internal auditors found various U.N. agencies involved in the program allowed millions of dollars in overcharges by contractors.

Mr. Volcker publicly released more than 50 audits on the program Sunday, when he also released his report on the audits.

The report says auditors criticized oil-for-food program officials for being resistant to make changes recommended for the program.

But Mr. Volcker noted the audits for failed to monitor contracts that dealt with oil purchases and humanitarian aid, and missed millions of dollars in illegal payments to Saddam Hussein's government.

Some information for this report provided by AP and Reuters.