What is a primary responsibility of the GAO?

The Government Accountability Office (GAO) plays a critical role in ensuring accountability in the federal government by overseeing federal financial statements. This responsibility involves evaluating whether these statements are accurately representing the financial position of government entities and whether they comply with relevant laws and regulations. The GAO conducts audits and assessments that provide insights into the effectiveness and efficiency of government operations and financial management.

This oversight helps enhance transparency and accountability in the use of public funds, making it a core function of the GAO. By reviewing federal financial statements, the GAO contributes to building public trust in government operations and ensures that taxpayer dollars are being used appropriately.