Skip to main content

Congressional Oversight: The General Accounting Office

T-OCG-96-2 Published: Apr 30, 1996. Publicly Released: Apr 30, 1996.
Jump To:
Skip to Highlights

Highlights

GAO discussed its work. GAO noted that: (1) in the last 5 years, GAO work has resulted in financial savings and other benefits at a return of $55 for every dollar appropriated for GAO; (2) it has developed a cadre of experts who have helped federal agencies improve their information systems and financial, property, and inventory management; (3) despite budget cuts, it has maintained or increased its productivity; (4) GAO work directly resulted in financial statement requirements for federal agencies and first alerted the nation to the savings and loan crisis and the risk of derivatives; (5) it has established five broad, high-priority work areas that seek to improve government efficiency and cost-effectiveness, expose fraud, waste, abuse, and mismanagement, reduce the deficit, improve accountability, and identify trends with fiscal, budgetary, or oversight consequences; (6) to improve its productivity, it is streamlining its operations and downsizing its workforce, improving its work and reporting processes, using advanced information resources technology, and enhancing its methodological and technical skills; (7) further staff cuts may affect its accountability and jeopardize its ability to conduct audits and investigations; (8) an independent study has recognized the value of GAO and its nonpartisan and nonideological nature; (9) in response to the study's recommendations, it has taken steps to focus and improve its work and optimize its usefulness to Congress; and (10) it will continue to guard its reputation for independence, credibility, and integrity while meeting Congress' needs.

Full Report

Office of Public Affairs

Topics

AccountabilityAgency missionsBudget cutsCongressional oversightDeficit reductionFederal downsizingFinancial statementsLegislative bodiesManagement reengineeringMedicaidMedicareProductivity in governmentReporting requirements