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I wish this was a link to the original Oxfam audit. It's strange to me that an audit would say that there's somewhere between $23 and $41 billion missing. If th

I wish this was a link to the original Oxfam audit. It's strange to me that an audit would say that there's somewhere between $23 and $41 billion missing. If the audit really knew what it was doing, wouldn't it have a more precise number What is unaccounted for? That said, it's high-time for organizations like the World Bank to have fully transparent finances. Like, I should be able to go to a website and see where every single dollar is being spent. I say this as someone who's a citizen of a country who contributes heavily to the org And therefore, I think I have a right to know where my money's going.

NoboruWataya 2y ago
Here's the page on the Oxfam website: https://www.oxfam.org/en/press-releases/41-billion-world-bank-climate-finance-unaccounted-oxfam-finds https://www.oxfam.org/en/press-releases/41-billion-world-ban... It links to a report which seems to be the main publication, but frankly is very light on details of their audit. Also a lot of the claims are very strangely phrased which makes it difficult to figure out if the criticisms are legitimate or overblown.
- wslh 2y ago
  I don't think at this point they could publish a complete report since some information should remain confidential for further investigation.
zdragnar 2y ago
> It's strange to me that an audit would say that there's somewhere between $23 and $41 billion missing. Audits have degrees of certainty; an opinion may be unqualified, meaning the records are spotless, qualified, meaning there are issues but the records are trustworthy, and adversarial, meaning the records are inaccurate and do not represent the actual financial status. If the records are questionable, it will usually take much more investigation than a standard audit to track down every money unit and produce a clean accounting of the money. Hence, it is possible to identify that records are wrong, but knowing exactly whether the money is still present but unaccounted for versus the money is actually gone from the organizations control without a record of the transaction isn't yet determined. The DOD itself hasn't passed an audit ever. Money comes and goes without accounting meeting financial standards. That does not strictly mean that the money has been embezzled, only that the DOD and World Bank are unable to demonstrate that it hasn't been.
- Eddy_Viscosity2 2y ago
  > Money comes and goes without accounting meeting financial standards. That does not strictly mean that the money has been embezzled, only that the DOD and World Bank are unable to demonstrate that it hasn't been. Can you think of a better place to embezzle? Its risk-free without any accounting standards. 100% that embezzling is taking place and at a large scale.
  - zdragnar 2y ago
    Given that the DOD is the largest employer in the USA at nearly a million people, there's almost certainly some small amount going on at a minimum.
    - gwerbret 2y ago
      Walmart alone employs 1.6 million people: https://corporate.walmart.com/about/location-facts https://corporate.walmart.com/about/location-facts
      - zdragnar 2y ago
        The 770,000 number for the DOD is just the civilian employee count. It becomes the "largest" when you also include the 2.1 million active service members of the military. I definitely could have worded that better.
  - MichaelZuo 2y ago
    How do you know it’s risk-free? I’ve heard the budget battles between the Navy and Air Force can get particularly severe.
    - Eddy_Viscosity2 2y ago
      > How do you know it’s risk-free? Because you can't convict someone for embezzlement if you can't prove it. And you can't prove it if there are no records. This is the purpose of proper financial record-keeping standards - to know where the money is and where it came from and where it goes.
SideQuark 2y ago
[flagged]
- yfw 2y ago
  You should if they expect you to fund them
  - SideQuark 2y ago
    So we should demand public expense reports of those taking state money? Citizens too?
- bozhark 2y ago
  Nonprofits do why no for profits too?
  - SideQuark 2y ago
    Nonprofits don’t. There goes your argument. They comply with tax laws, but you can’t see them. Why do people just make crap up?
- ww520 2y ago
  You don’t have a right to the money then.
  - SideQuark 2y ago
    Good thing govts aren’t so petty and shortsighted.
- fmajid 2y ago
  The World Bank is an international organization, accountable to its shareholder governments, themselves accountable to their respective people, as all but China, Russia and Saudi Arabia are democracies.
  - SideQuark 2y ago
potato3732842 2y ago
>wouldn't it have a more precise number What is unaccounted for? The audit likely uncovered conflicting information and records. The range represents the high and low bounds of possible interpretations of that conflicting information.

NoboruWataya 2y ago

Here's the page on the Oxfam website: https://www.oxfam.org/en/press-releases/41-billion-world-bank-climate-finance-unaccounted-oxfam-finds https://www.oxfam.org/en/press-releases/41-billion-world-ban... It links to a report which seems to be the main publication, but frankly is very light on details of their audit. Also a lot of the claims are very strangely phrased which makes it difficult to figure out if the criticisms are legitimate or overblown.

wslh 2y ago
I don't think at this point they could publish a complete report since some information should remain confidential for further investigation.

zdragnar 2y ago

> It's strange to me that an audit would say that there's somewhere between $23 and $41 billion missing. Audits have degrees of certainty; an opinion may be unqualified, meaning the records are spotless, qualified, meaning there are issues but the records are trustworthy, and adversarial, meaning the records are inaccurate and do not represent the actual financial status. If the records are questionable, it will usually take much more investigation than a standard audit to track down every money unit and produce a clean accounting of the money. Hence, it is possible to identify that records are wrong, but knowing exactly whether the money is still present but unaccounted for versus the money is actually gone from the organizations control without a record of the transaction isn't yet determined. The DOD itself hasn't passed an audit ever. Money comes and goes without accounting meeting financial standards. That does not strictly mean that the money has been embezzled, only that the DOD and World Bank are unable to demonstrate that it hasn't been.

Eddy_Viscosity2 2y ago
> Money comes and goes without accounting meeting financial standards. That does not strictly mean that the money has been embezzled, only that the DOD and World Bank are unable to demonstrate that it hasn't been. Can you think of a better place to embezzle? Its risk-free without any accounting standards. 100% that embezzling is taking place and at a large scale.
- zdragnar 2y ago
  Given that the DOD is the largest employer in the USA at nearly a million people, there's almost certainly some small amount going on at a minimum.
  - gwerbret 2y ago
    Walmart alone employs 1.6 million people: https://corporate.walmart.com/about/location-facts https://corporate.walmart.com/about/location-facts
    - zdragnar 2y ago
      The 770,000 number for the DOD is just the civilian employee count. It becomes the "largest" when you also include the 2.1 million active service members of the military. I definitely could have worded that better.
- MichaelZuo 2y ago
  How do you know it’s risk-free? I’ve heard the budget battles between the Navy and Air Force can get particularly severe.
  - Eddy_Viscosity2 2y ago
    > How do you know it’s risk-free? Because you can't convict someone for embezzlement if you can't prove it. And you can't prove it if there are no records. This is the purpose of proper financial record-keeping standards - to know where the money is and where it came from and where it goes.

SideQuark 2y ago

[flagged]

yfw 2y ago
You should if they expect you to fund them
- SideQuark 2y ago
  So we should demand public expense reports of those taking state money? Citizens too?
bozhark 2y ago
Nonprofits do why no for profits too?
- SideQuark 2y ago
  Nonprofits don’t. There goes your argument. They comply with tax laws, but you can’t see them. Why do people just make crap up?
ww520 2y ago
You don’t have a right to the money then.
- SideQuark 2y ago
  Good thing govts aren’t so petty and shortsighted.
fmajid 2y ago
The World Bank is an international organization, accountable to its shareholder governments, themselves accountable to their respective people, as all but China, Russia and Saudi Arabia are democracies.
- SideQuark 2y ago

potato3732842 2y ago

>wouldn't it have a more precise number What is unaccounted for? The audit likely uncovered conflicting information and records. The range represents the high and low bounds of possible interpretations of that conflicting information.