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KPMG Audit Of The Development Fund For Iraq
In May 2003, following the invasion of Iraq in March of that year, the Central Bank of Iraq-Development Fund for Iraq (DFI) account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority (CPA) Administrator. A part of the fund has been transferred to Baghdad and Iraq, and the DFI-Baghdad account was opened at the Central Bank of Iraq "for cash payment requirements". The fund also eventually received money (US$1.724 billion) from seized and "vested" Iraqi bank accounts and funds seized by coalition forces ($926.7 million). $650 million of this amount belongs to Uday Saddam Hussein, the older son of the former Iraqi president. (This money was also used during the transition period before the DFI was set up.) The DFI have been disbursed mainly for "the wheat purchase program, the currency exchange program, the electricity and oil infrastructure programs, equipment for Iraqis security forces, and for Iraqi civil service salaries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2003 Invasion Of Iraq
The 2003 invasion of Iraq was a United States-led invasion of the Republic of Iraq and the first stage of the Iraq War. The invasion phase began on 19 March 2003 (air) and 20 March 2003 (ground) and lasted just over one month, including 26 days of major combat operations, in which a combined force of troops from the United States, the United Kingdom, Australia, and Poland invaded Iraq. Twenty-two days after the first day of the invasion, the capital city of Baghdad was captured by Coalition forces on 9 April 2003 after the six-day-long Battle of Baghdad. This early stage of the war formally ended on 1 May 2003 when U.S. President George W. Bush declared the "end of major combat operations" in his Mission Accomplished speech, after which the Coalition Provisional Authority (CPA) was established as the first of several successive transitional governments leading up to the first Iraqi parliamentary election in January 2005. U.S. military forces later remained in Iraq unt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iraqi Transitional Government
The Iraqi Transitional Government was the government of Iraq from May 3, 2005, when it replaced the Iraqi Interim Government, until May 20, 2006, when it was replaced by a permanent government. On April 28 it was approved by the transitional Iraqi National Assembly, which had been elected in January 2005. It operated under the Law of Administration for the State of Iraq for the Transitional Period, and its main functions were to draft a permanent Constitution of Iraq and to form a transitional government. Organization Executive Although the President is the chief of military and head of state, the Prime Minister is the head of government who exercises most executive powers. The President and both deputies (collective the ''Presidency Council of Iraq'') are elected by the Assembly with a two-thirds majority. They then propose the Prime Minister from the largest party, who must also be approved with a two-thirds majority; the Prime Minister then proposes the Council of Ministers, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petty Cash
Petty cash is a small amount of discretionary funds in the form of cash used for expenditures where it is not sensible to make any disbursement by cheque, because of the inconvenience and costs of writing, signing, and then cashing the cheque. The most common way of accounting for petty cash expenditures is to use the imprest system. The initial fund would be created by issuing a cheque for the desired amount. An amount of $100 would typically be sufficient for most small business needs as the expenses to be covered are for small amounts. The bookkeeping entry for this initial fund would be to debit Petty Cash and credit bank account. This cheque would then be cashed to acquire the actual cash needed for payments. As expenditures are made, the custodian of the fund (a bookkeeper or a member of the administration staff) will reimburse employees and receive a petty cash voucher with a receipt/invoice attached in return. At any given time, the total of cash on hand plus reimburse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double-entry Bookkeeping System
Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides known as debit and credit. A transaction in double-entry bookkeeping always affects at least two accounts, always includes at least one debit and one credit, and always has total debits and total credits that are equal. The purpose of double-entry bookkeeping is to allow the detection of financial errors and fraud. For example, if a business takes out a bank loan for $10,000, recording the transaction would require a debit of $10,000 to an asset account called "Cash", as well as a credit of $10,000 to a liability account called "Notes Payable". The basic entry to record this transaction in a general ledger will look like this: Double-entry bookkeeping is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coalition Provisional Authority Program Review Board
The Coalition Provisional Authority Program Review Board was composed of the senior personnel of the Coalition Provisional Authority, charged with the responsibility to review and make recommendations about the awarding of contracts to the administrator of the authority, Paul Bremer. The board recommended the awarding of more than 800 contracts. It had the authority to recommend expenditures from both the Development Fund for Iraq, which the Coalition Provisional Authority (CPA) administered in trust on behalf of the Iraqi people, and the Iraq Relief and Reconstruction Fund, which the CPA administered on behalf of the American people. The expenditures from the Development Fund for Iraq that the board recommended to CPA Administrator Bremer were made under obligations the Coalition undertook under United Nations resolutionbr>1483 They included making sure that expenditures were administered in an open and transparent manner. According to the KPMG audit of the Development Fund for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Wolfe (CPA)
George B. Wolfe was born and raised in Columbia, South Carolina. He is a partner in the law firm of Nelson Mullins in Columbia, South Carolina. His practice is focused on representing foreign and domestic companies establishing or expanding operations in South Carolina. Career Wolfe began his career in 1977 at the law firm of Wilmer, Cutler and Pickering (now known as Wilmer Hale) in Washington, DC. In 1983, Wolfe returned to his hometown of Columbia, South Carolina and joined Nelson Mullins and has practiced there since that time with the exception of 2001–2004, when he worked at the U.S. Treasury Department. From 1989-1993, Mr. Wolfe served as a member of the Investment Policy Advisory Committee (INPAC) to the United States Trade Representative under President George H.W. Bush. From 2001 to 2004, Wolfe served as deputy general counsel and counselor to the secretary for the Department of the Treasury. During this time, he also served two tours in Iraq (2003–2004) as par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stuart Bowen
Stuart W. Bowen Jr. (born March 24, 1958), is an American lawyer who served as the Special Inspector General for Iraq Reconstruction (SIGIR) from October 2004 to October 2013. He previously served as the Inspector General for the Coalition Provisional Authority (CPA-IG), a position to which he was appointed in January 2004. Mr. Bowen's mission includes ensuring effective oversight of the $63 billion appropriated for Iraq's relief and reconstruction. Background Born in Washington, D.C., on March 24, 1958, Mr. Bowen attended the Episcopal High School in Alexandria, Virginia, earned a Bachelor of Arts, B.A. from the University of the South/Sewanee, attended Vanderbilt University Law School, and received a Juris Doctor, J.D. from St. Mary's University School of Law in San Antonio, where he served on the Law Journal's Editorial Board. He spent four years on active duty as an intelligence officer in the U.S. Air Force, earning the rank of captain (United States), Captain and the Air For ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Bremer
Lewis Paul Bremer III (born September 30, 1941) is an American diplomat. He led the Coalition Provisional Authority (CPA) following the 2003 invasion of Iraq by the United States, from May 2003 until June 2004. Early life and education Born on September 30, 1941, in Hartford, Connecticut, Bremer was educated at New Canaan Country School, Kent School, and Phillips Academy Andover. Bremer's father was president of the Christian Dior Perfumes Corporation in New York and his mother was a lecturer in art history at the University of Bridgeport. Bremer graduated from Yale University in 1963 and went on to earn an MBA from Harvard University in 1966. He later continued his education at the Institut d'études politiques de Paris, where he earned a Certificate of Political Studies (CEP). Early career Foreign Service That same year he joined the Foreign Service, which sent him first to Kabul, Afghanistan, as a general services officer. He was assigned to Blantyre, Malawi, as econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UN Security Council Resolution 1483
United Nations Security Council resolution 1483, adopted on 22 May 2003, after recalling all previous resolutions on the situation between Iraq and Kuwait, the Council lifted trade sanctions against Iraq (excluding an arms embargo) and terminated the Oil-for-Food Programme. The resolution was drafted by the United States and co-sponsored by Spain and the United Kingdom; it was approved by 14 of 15 Security Council members as Syria did not participate in the voting. Resolution Observations The Security Council reaffirmed the importance of the disarmament of Iraqi weapons of mass destruction and the right of the Iraqi people to determine their own political future and control of their natural resources. It encouraged efforts to form a representative government to afford equal rights and justice to all Iraqi citizens, and recalled Resolution 1325 (2000) on women to that effect. Furthermore, the Council determined that the United Nations should play a vital role in humanitarian re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Humanitarian
Humanitarianism is an active belief in the value of human life, whereby humans practice benevolent treatment and provide assistance to other humans to reduce suffering and improve the conditions of humanity for moral, altruistic, and emotional reasons. One aspect involves voluntary emergency aid overlapping with human rights advocacy, actions taken by governments, development assistance, and domestic philanthropy. Other critical issues include correlation with religious beliefs, motivation of aid between altruism and social control, market affinity, imperialism and neo-colonialism, gender and class relations, and humanitarian agencies. A practitioner is known as a humanitarian. An informal ideology Humanitarianism is an informal ideology of practice; it is "the doctrine that people's duty is to promote human welfare." Humanitarianism is based on a view that all human beings deserve respect and dignity and should be treated as such. Therefore, humanitarians work towards advan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditor
An auditor is a person or a firm appointed by a company to execute an audit.Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the regulatory authority. Types of auditors * External auditor/ Statutory auditor is an independent firm engaged by the client subject to the audit, to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion over the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Most important ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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