Government Accountability Office - GAO

AAA

DEFINITION of 'Government Accountability Office - GAO'

A department of the U.S. government that monitors and audits government spending. The General Accountability Office (GAO) tracks how the legislative and executive branches of the government use tax-payer dollars and then reports the findings directly to Congress. The Comptroller General serves as head of the GAO.

INVESTOPEDIA EXPLAINS 'Government Accountability Office - GAO'

The GAO serves as a sort of financial watchdog over government spending. It monitors the operating results, financial positions and accounting systems used by the various governmental agencies. The GAO also conducts routine audits on all branches of government.

RELATED TERMS
  1. Comptroller General

    A high-ranking accounting position in the U.S. government. Appointed ...
  2. Taxpayer Identification Number ...

    A number that is assigned to a tax paying businesses for identification ...
  3. Audit Risk

    The risk that an auditor will not discover errors or intentional ...
  4. Financial Statements

    Records that outline the financial activities of a business, ...
  5. Auditor

    An official whose job it is to carefully check the accuracy of ...
  6. Audit

    1. An unbiased examination and evaluation of the financial statements ...
Related Articles
  1. Get A Job In Compliance
    Professionals

    Get A Job In Compliance

  2. On The Record: Communications With The ...
    Professionals

    On The Record: Communications With The ...

  3. Investigating The Securities Police
    Professionals

    Investigating The Securities Police

  4. Policing The Securities Market: An Overview ...
    Investing Basics

    Policing The Securities Market: An Overview ...

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center