Iraq’s newest audited state account is FY2019 — six years old.
The Board’s 2025 annual report closes the books on fiscal years 2017, 2018 and 2019. Nothing after 2019 has a final audited account.
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Every finding
Each one is arithmetic over figures the Board printed and we verified twice. No model writes a finding here, and none of them characterise: they state what the numbers say and name the page they came from.
13 state bodies spent past what parliament allowed — IQD 2.25tn (~$1.7bn) beyond their combined allocations in FY2017.
From the Board’s over-execution table: entities whose actual spend exceeded the revised allocation.
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Basra — general & local administration spent 445% of its allocation — IQD 61.7bn (~$47m) beyond it.
The steepest over-execution rate in the table.
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The single largest over-spend: National Pension Authority, IQD 1.67tn (~$1.3bn) beyond its allocation (118% of budget).
The largest absolute gap between allowed and spent in the table.
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Everything Iraq earned beside oil in FY2017: IQD 10.24tn (~$7.9bn) — led by taxes on income & wealth at 32%.
The non-oil revenue table, summed; shares computed from the Board’s own rows.
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Across 2011–2018 Iraq budgeted IQD 136.79tn (~$105.2bn) of deficits — the actual combined result was a deficit of IQD 12.71tn (~$9.8bn).
Planned deficit per budget law vs the Board’s recorded outturn, summed across the audited years. The budget document and reality are different genres.
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2014: Iraq ran the entire year without a budget law — and closed it IQD 27.70tn (~$21.3bn) in deficit.
Where the planned-deficit figure should be, the Board prints “no budget law was issued.”
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The oil governorates were owed IQD 649.7bn (~$500m) under the 5% petrodollar rule in FY2019 — Basra alone IQD 396.1bn (~$305m).
Entitlements recorded by the Board, governorate by governorate.
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31 state bodies deducted IQD 211.8bn (~$163m) in pension contributions from their staff and never handed the money to the National Pension Authority.
The annex register of unpaid pension deductions, summed — annex table 30.
7 state and mixed companies have losses past the legal share of their capital — Mosul Dam Tourist City Co has eaten 1,221% of its capital.
Accumulated deficit against capital, as the Board records it — annex table 3.
The state's own two records of Saddam-era debt disagree by IQD 2.29tn (~$1.8bn) — the Public Debt Directorate and the Accounting Directorate keep different books.
Row-by-row gaps between the two directorates’ recorded balances, summed — printed page 88.
Printed page 88
Every figure transcribed in two independent passes · reconciled against the report’s printed totals · mismatches withheld · audit observations are the Board’s recorded findings, not convictions, and name institutions, never individuals