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Development Fund for Iraq: Department of Defense Needs To Improve Financial and Management Controls

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Office of the Special Inspector General for Iraq Reconstruction (SIGIR), Development Fund for Iraq: Department of Defense Needs To Improve Financial and Management Controls, July 27, 2010

  • “Weaknesses in DoD’s financial and management controls left it unable to properly account for $8.7 billion of the $9.1 billion in DFI funds it received for reconstruction activities in Iraq. This situation occurred because most DoD organizations receiving DFI funds did not establish the required Department of the Treasury accounts and no DoD organization was designated as the executive agent for managing the use of DFI funds. The breakdown in controls left the funds vulnerable to inappropriate uses and undetected loss.
    The Department of the Treasury established guidance for accounting for non-U.S. government funds when U.S. agencies act as a custodian of those funds, but DoD did not implement the guidance in a timely manner. More importantly, most DoD organizations that received DFI funds did not follow the guidance. Only one of these organizations established the required account and, as a result, accounts were not established for $8.7 billion (96%) of the DFI funds made available to DoD.”
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