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General Accounting Office
General Accounting Office definition - finance
The arm of Congress that investigates
the performances of governmental agencies or programs. The GAO evaluates how
public funds are spent and whether federal programs are meeting their stated
goals. Congress usually requests the reports and investigations that it wants
the GAO to conduct, though some reports are required by law, such as periodic
reviews of programs that Congress created. The GAO also serves as CongressÂ’s
investigative arm and provides analytical, investigative, and legal services in
order to provide Congress with information to use in creating policy and making
decisions.
Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
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