The Paul Volcker Committee (Independent Inquiry Committee) was formed to investigate alleged corruption and fraud in the

United Nations The United Nations (UN) is the Earth, global intergovernmental organization established by the signing of the Charter of the United Nations, UN Charter on 26 June 1945 with the stated purpose of maintaining international peace and internationa ...

Oil-for-Food Programme The Oil-for-Food Programme (OIP) was established by the United Nations in 1995 (under UN Security Council Resolution 986) to allow Iraq to sell oil on the world market in exchange for food, medicine, and other humanitarian needs for ordinary I ...

Iraq Iraq, officially the Republic of Iraq, is a country in West Asia. It is bordered by Saudi Arabia to Iraq–Saudi Arabia border, the south, Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq border, the east, the Persian Gulf and ...

. The committee was appointed by

UN Secretary-General The secretary-general of the United Nations (UNSG or UNSECGEN) is the chief administrative officer of the United Nations and head of the United Nations Secretariat, one of the United Nations System#Six principal organs, six principal organs of ...

Kofi Annan Kofi Atta Annan (8 April 193818 August 2018) was a Ghanaian diplomat who served as the seventh secretary-general of the United Nations from 1997 to 2006. Annan and the UN were the co-recipients of the 2001 Nobel Peace Prize. He was the founder a ...

in April 2004, following calls for a

Security Council The United Nations Security Council (UNSC) is one of the six principal organs of the United Nations (UN) and is charged with ensuring international peace and security, recommending the admission of new UN members to the General Assembly, an ...

inquiry, which was approved in Resolution 1538. The three-member inquiry was chaired by former

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of ...

chairman and

United Nations Association of the United States of America The United Nations Association of the United States of America (UNA-USA) is the official United Nations Association of the United States, a nonprofit grassroots organization dedicated to promoting political and public support for the United Natio ...

director

Paul Volcker Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chair of the Federal Reserve, chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely ...

. The other members of the inquiry were

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

n Justice

Richard Goldstone Richard Joseph Goldstone (born 26 October 1938) is a South African retired judge who served in the Constitutional Court of South Africa from July 1994 to October 2003. He joined the bench as a judge of the Supreme Court of South Africa, first i ...

and

Swiss Swiss most commonly refers to: * the adjectival form of Switzerland * Swiss people Swiss may also refer to: Places * Swiss, Missouri * Swiss, North Carolina * Swiss, West Virginia * Swiss, Wisconsin Other uses * Swiss Café, an old café located ...

Professor of Criminal Law

Mark Pieth Mark Pieth (born 9 March 1953) is Professor of Criminal Law at the University of Basel, Switzerland and a prominent anti-corruption expert. Pieth's career as a legal expert, defence lawyer, judge and compliance advisor includes several roles on th ...

. The committee's 60 members of staff, which included three support personnel on loan from the UN, operated on a $30 million budget drawn from the UN Oil-for-Food

escrow An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transact ...

account. The Independent Inquiry Committee (IIC) into the United Nations Oil-for-Food Programme released its interim report during February 2005.

External links

* * Organizations established by the United Nations United Nations Oil-for-Food scandal United Nations commissions {{UN-stub

See also

External links