[3] The DFI was put under the control of the Coalition Provisional Authority and the administrative arm of the US-UK occupation forces.
International Advisory and Monitoring Board (IAMB) was created in United Nations Security Council Resolution 1483 (2003).
[4] In October 2004, the audits conducted by IAMB and KPMG revealed the CPA's inadequate accounting system.
During this time illegal export of petroleum was conducted secretly from Iraq, and a large amount of funds for DFI were disbursed without accountability.
[5] After June 28, 2004, the Iraqi Interim Government had administered the DFI under the IAMB's oversight following to United Nations Security Council Resolution 1546 until December 31, 2006.
United States Congressman Henry Waxman had the staff of the Committee on Government Reform to perform another audit of DFI's expenditures.
Paragraphs 12 and 20 of UN resolution 1483 specified that an external auditor would be appointed to audit the expenditure made from Iraq's oil revenue.
The auditors identified dozens of serious ways in which the CPA failed to meet its obligations: On June 20, 2005 the staff on Congressman Waxman's Committee on Government Reform released a highly critical report.
In their International Advisory and Monitoring Board's press release of June 22, 2004 states: The CPA was shipping Iraqi oil through a pipeline system with non-functioning meters.