United Nations to a Development Fund for Iraq, controlled by the Coalition Provisional Authority, on 23 May 2003. It also created an international body to monitor the Coalition's expenditures from Iraq's oil revenue, the International Advisory and Monitoring Board (IAMB). The Coalition's authority to expend Iraq's oil revenue was conditional. The Coalition was only authorized to expend those funds for the benefit of the Iraqi people. Those expenditures were only authorized if they were made in an open and transparent manner. The Coalition was only authorized to expend funds so long as they cooperated in the IAMB's oversight of those expenditures, and the Coalition was charged with the obligation to make those expenditures with meaningful Iraqi input. The Oil-for-Food Program's remaining funds of $10 billion were transferred over a 6-month winding-up period to the Development Fund for Iraq, representing 14% of the program's total income over 5 years. The Coalition was widely criticized for failing to implement adequate financial controls; with failing to make expenditures from the Development Fund for Iraq in an open and transparent manner. See also Coalition Provisional Authority Program Review Board Foreign relations of Iraq Gulf War International Advisory and Monitoring Board Iraq disarmament crisis Iraq disarmament timeline 1990–2003 List of United Nations Security Council Resolutions 1401 to 1500 (2002–2003) References External links Text of the Resolution at undocs.org 1483 1483 Iraq and weapons of mass destruction 2003 in Iraq May 2003 events Sanctions against Iraq