Baghdad, Iraq (CNN) -- A federal audit of $9.1 billion targeted for reconstruction in Iraq cannot account for more than 95 percent of it, a federal report said Tuesday. The report, by the Special Inspector General for Iraq Reconstruction, blamed "weaknesses in DoD's [the Department of Defense's] financial and management controls" and called on the Pentagon to improve its financial and management controls. The audit centered on the Development Fund for Iraq (DFI), which was established in May 2003 by the Coalition Provisional Authority (CPA). After the CPA was dissolved in June 2004, the Iraqi government authorized the U.S. government to administer the funds used for reconstruction.
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Report: More than 95 percent of $9.1 billion cannot be accounted for
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Report blames "weaknesses in DoD's financial and management controls"
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Funds "vulnerable to inappropriate uses and undetected loss"
The special inspector general reviewed records from eight Defense Department organizations that received @placeholder funds.