Word: cpa
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Dates: during 2000-2009
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Less than than two months after former Coalition Provisional Authority (CPA) administrator L. Paul Bremer received the Presidential Medal of Freedom, a scathing audit by a longtime confidante of George W. Bush is bashing Bremer's agency for failing to establish "adequate financial controls," leaving some fiscal reporting systems "either weak or non-existent." The audit charges that the CPA left large portions of the $8.8 billion Iraqi treasury "open to fraud, kickbacks, and misappropriation of funds," according to a draft obtained by TIME. The report was written by Stuart Bowen, a lawyer from Texas who became special inspector general...
Bremer, in an angry eight-page reply appended to the draft, rapped Bowen for "misconceptions and inaccuracies" and for expecting the CPA, amid postwar chaos, to follow accounting standards that "even peaceful Western nations would have trouble meeting within a year." Among the details Bremer may have trouble explaining: at a press conference last spring, he said the CPA had approved "fundamental" internal controls for the Health Ministry before handing it over to the interim government. But, the report notes, his staff members said they were "unaware of the basis" for that assertion. --By Timothy J. Burger
Some parents seal the deal by holding the mortgage. "The benefit of not taking all the cash up front is twofold," says Jan Culver, a CPA and senior vice president for McDonald Financial Group Trust Services. "Assuming the kids are reliable about making payments, this gives parents a steady stream of retirement income at a fixed rate of interest, which is a lot less risky than taking a lump sum and investing it in the stock market. It can also potentially save money for the kids because the rate of interest that must be charged on a private loan...
This summer saw two major milestones, though both were largely symbolic. On June 28, the U.S.-led coalition transferred limited sovereignty to a government of Iraqis, ending the reign of the Coalition Provisional Authority (CPA) and placing control of the country—at least officially—in the hands of interim Prime Minister Ayad Allawi. Unfortunately, the transfer of power has not made the rocky road to peace in Iraq any smoother. Earlier this month, a second, far grimmer milestone: the number of U.S. casualties in Iraq crept past the sobering 1,000 mark...
Iraq's resurgence gained momentum in January, when Iraqi sports officials elected al-Samarrai as head of the National Olympic Committee of Iraq (N.O.C.I.). Al-Samarrai saw that the N.O.C.I. had to alter its business strategy. Drawing on oil revenues and Saddam Hussein's seized assets, the CPA granted the N.O.C.I. a $10 million operating budget this year and a $3 million capital budget earmarked for a renovation of the national soccer stadium in Baghdad. The N.O.C.I. estimates that it needs $25 million to keep sports going and an additional $98 million to renovate gyms and soccer fields. The Iraqis...