GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System.
The agency spent $296.6 million in FY 2020 to do its work.
In fiscal year 2019, agencies across government made an estimated $175 billion in improper payments—payments that should not have been made or were made in the incorrect amount. But this total comes from individual agency estimates, which aren’t all reliable.
GAO's Forensic Audits and Special Investigations team (FSI), which was created in 2005 as an interdisciplinary team consisting of investigators, auditors, and analysts, conducts covert tests at the request of the Congress to identify vulnerabilities and internal control weaknesses at executive branch...
A key provision of the Cash Management Improvement Act (CMIA) of 1990 (P.L. 101-453), as amended, requires the federal government and the states to minimize the time between transfer of federal funds and payments made by states for federal grant program purposes.
The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and the Congress.
The September 11, 2001, terrorist attacks highlighted the importance of data collection, information sharing, and coordination within the U.S. government. Such efforts are important whether focused on terrorism or as an integral part of a broader strategy for combating money laundering.