The Financial Times has obtained a report from United Nations auditors that sharply criticizes how the US occupation authority in Iraq has spent more than $11 billion in Iraqi oil revenues. The report claims that the manner in which money is funneled from the oil accounts to reconstruction projects is “open to fraudulent acts.” There was also little accountability as to how money was spent. Some Iraqis have expressed concern that the CPA’s books will never be audited since after June 30 so-called handover when the CPA will cease to exist. One Iraqi political aide said “I lament the lack of transparency and lack of involvement by Iraqis.”