Written question asked by Lord Avebury (Liberal Democrat), in the House of Lords. It was answered by Lord Triesman (Labour) on Monday, 10 October 2005.

Iraq: Development Fund

Question: What action they are taking on the irregularities concerning the Development Fund for Iraq reported by the auditors KPMG.

Answer: The latest report by the Independent Advisory and Monitoring Board (IAMB) is based on audit reports by external auditor (KPMG) of activities relating to the Development Fund of Iraq (DFI), covering the period 29 June 2004 to 31 December 2004.Under United Nations Security Council Resolution 1546, Iraq has sole control over its financial assets and the DFI and how they are managed. The IAMB continues to monitor Iraqi management of the DFI to ensure transparency and that DFI funds are used to benefit the Iraqi people.The UK continues to study the detailed points made in the KPMG report. We are continuing our support to improve transparency and accountability of public financial management in Iraq through Department for International Development-funded technical assistance to the Ministry of Finance.

Secondary information