Suits Say U.S. Impeded Audits for Oil Leases
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Auditors say the Interior Department suppressed efforts to recover millions from oil companies they said were cheating the government.
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In a lawsuit that harks back to the Enron scandal, the Bush administration is at odds with the federal agency that oversees securities markets as well as with state attorneys general and consumer and investor advocates.
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Concerns over the audit work of the Big Four have been raised following a series of limited inspections by the US accountancy watchdog.
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President Bush's push to revise the Clean Air Act sometimes has hindered enforcement of the existing law for cleaning up coal-fired power plants, the Justice Department's top environmental lawyer said Tuesday.
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An independent oversight agency said it could not complete an audit of a $1.2 billion contract to train Iraqi policemen because records kept by the State Department and by DynCorp International, the contractor, were inaccurate and in disarray.
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Business & money: Business leaders oppose stronger powers to investigate breaches.
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Struggling to prevent the loss of billions in oil and gas royalties, the Interior Department is close to a deal with 2 of the 56 companies that hold lucrative drilling leases in the Gulf of Mexico.
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A government inquiry found pervasive problems in the monitoring of royalties for oil drilling.
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Officials said State Department investigators lacked the authority to offer the deals and that they could complicate efforts to prosecute the firmâs employees.
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Key Energy Services Inc. (KEG.N: Quote, Profile, Research) on Thursday said it would not be able to deliver its 2003 audited financial statement or unaudited financial statements
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Private military contractor Blackwater USA "delayed and impeded" a congressional probe into the 2004 killings of four of its employees in Falluja, Iraq, according the House oversight committee said Thursday in a report.
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The world&#39;s Big Four auditors have missed accounting problems in their clients allowing financial results to be distorted, a US watchdog says.
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WASHINGTON -- Despite record oil prices and strong projected demand from China and the United States, major oil firms are skimping on their exploration budgets and pocketing big profits while waiting out the storm of high prices, oil analysts say.
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The U.N. oil-for-food program chief under scrutiny for alleged corruption and mismanagement blocked a proposed audit of his office around the same time he's accused of soliciting lucrative oil deals from Iraq, according to investigators.
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Finance officials failed to resolve their differences over debt relief for the worldâs poorest countries and Iraq while expressing concern about the impact high oil prices would have on a strengthening global economy.
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The U.S.-led authority that governed  Iraq after the 2003 invasion did not properly safeguard $8.8  billion of Iraq's own money and this lack of oversight opened  up these funds to corruption, said a U.S. audit released on  Sunday.
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The US Congress hears that BP's failure to maintain oil pipelines at the largest US oil field was "unacceptable".