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Deloitte LLP

Review of USAID Bank Supervision Assistance in Afghanistan

Date: 03/16/2011 (Date of USAID IG Report)

Misconduct Type: Poor Contract Performance

Enforcement Agency: USAID

Contracting Party: USAID

Court Type: N/A

Amount: $0

Disposition: Investigative Finding

Synopsis: Beginning in 2003, BearingPoint (and later Deloitte, which acquired BearingPoint) provided technical assistance at the Afghanistan Central Bank, which supervised Kabul Bank, Afghanistan’s largest private bank. An investigation by USAID’s Inspector General found that BearingPoint and Deloitte advisers failed to aggressively investigate or report serious problems, including fraudulent activities, at Kabul Bank over a span of 2 years before the bank collapsed in September 2010. USAID subsequently terminated the bank supervision component of its contract with Deloitte, but did not hold Deloitte responsible for the fraud or the bank’s failure.