$76bn in Unsettled Advances Identified in Federal Audit Report

By John Lee.

The head of Iraq's Federal Board of Supreme Audit (FBSA), Dr. Ammar Subhi Khalaf al-Mashhadani (pictured), has outlined the key findings of the board's 2025 annual report in an interview with the state-owned Iraqi Media Network (IMN).

The report, which covers more than 7,950 audit reports totalling at least 70,000 pages, has been submitted to parliament within the 120-day statutory deadline. According to the FBSA, this is the first time since 2003 that parliament has convened a dedicated session to discuss the board's annual report.

Key figures highlighted in the report include:

• IQD 100 trillion (USD 76.3 billion) in unsettled advances accumulated since 2004
• IQD 26 trillion (USD 19.8 billion) in unpaid treasury shares from company dividends
• IQD 4 trillion (USD 3.1 billion) in uncollected liability compensation
• IQD 2 trillion (USD 1.5 billion) attributed to a single Ministry of Electricity contract for the operation of power stations

Click here to view the interview (Arabic).

Click here to download the FBSA 2025 Annual Report.

(Source: Federal Board of Supreme Audit)

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