The Government Accountability Office, commonly known as the GAO, is the economy’s watchdog. It is an independent agency of the United States government that is tasked with overseeing every facet of the government’s spending. The GAO was created to promote transparency and accountability through comprehensive audits, cost reviews, and financial reports. It is a non-partisan body with the mission of providing Congress and federal agencies with reliable information so they can save money and manage resources more effectively.

The GAO's function is to provide Congress and the public with objective analysis and impartial advice that aids government decision-making. Congress uses GAO reports to inform its decisions and increase the effectiveness of government programs. With its vast scope of authority, the GAO is responsible for a wide range of duties — from auditing federal programs and recommending course of action to ensuring the proper expenditure of taxpayer dollars.

At its core, the GAO exists to help promote good government and enhancehow taxpayers’ dollars are spent. To this end, the comptroller general is responsible for establishing government auditing standards. These standards serve as guidance when assessing an entity’s financial transactions or practices. Additionally, the GAO aims to help identify potential risks associated with the government’s performance and to aid the recovery of lost funds.

The GAO also monitors how grant money is used and how planned and out of pocket costs are controlled when federal contracts are awarded. It also is responsible for providing oversight of operations of the Department of Defense and other federal departments. It has a unique relationship with Congress by providing them independent, objective information on government programs, policies, and operations.

The GAO is an essential part of the government’s fiscal transparency and accountability mission. Its reports, publications, and analyses are invaluable tools for Congress, federal agencies, and taxpayers to help ensure that government funds are spent wisely. The Comptroller General, who is nominated by the President and serves a 15-year term, is the head of the GAO and serves as its chief spokesperson. Because of the GAO’s important role, its primary objective is to assist the government in being a better steward of taxpayer dollars.