GAO

abbreviation
Updated on: 13 Oct 2017

Definition of GAO

General Accounting Office; Government Accountability Office

Financial Definition of GAO

GAO

What It Is

The Government Accountability Office (GAO) investigates, with congressional approval, the federal government's spending.

How It Works

The GAO started in 1921, when the Budget and Accounting Act transferred the government's auditing and accounting functions away from the Treasury Department. The head of the GAO is the comptroller general of the United States and is appointed to a 15-year term by the U.S. president. Congress gives the president a list of candidates to choose from.

The GAO is now an independent, nonpartisan agency that investigates the use of taxpayer dollars, writes reports about its findings and makes recommendations to Congress. {ia_ext|These reports and findings are available here|http://www.gao.gov}.

Why It Matters

The GAO's role is to keep the federal government accountable for its spending decisions and help the government operate efficiently. To do this, it investigates an array of spending projects and provides the public and Congress with findings and recommendations. Its fiduciary duty is to American taxpayers.


Law Dictionary

GAO

abbreviation

legal Definition of GAO


Learn More about gao


Seen and Heard

What made you want to look up GAO? Please tell us where you read or heard it (including the quote, if possible).

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

WORD OF THE DAY

marked by intense feeling

Get Word of the Day daily email!

Test Your Vocabulary

Find the Cousins

  • a-large-tree-with-many-branches
  • Which pair shares a common word ancestor?
Name That Thing

Test your visual vocabulary with our 10-question challenge!

TAKE THE QUIZ
Word Winder's CrossWinder

Test Your Knowledge - and learn some interesting things along the way.

TAKE THE QUIZ

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!