Friday, October 27, 2006

Halliburton arm accused of ‘abuse’ in Iraq

Nnnnooooo....(said in exaggerated Jack Tripper-style stage groan).

A Halliburton subsidiary that has been awarded billions of dollars in federal contracts in Iraq has been accused by an independent watchdog of “abuse” of government regulations that protect US taxpayers.

Stuart Bowen, the special inspector-general for Iraq reconstruction, said in an interim audit released on Thursday that Halliburton subsidiary Kellogg, Brown and Root (KBR) had, in effect, routinely inappropriately hidden data about one of its contracts from public scrutiny by marking the information as “proprietary”.

The critical audit comes on the heels of a separate report released this week that found that overhead costs had consumed between 11 per cent and 55 per cent of the cost of a handful of reconstruction projects.

See the full article at FT.com