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The House Financial Services Committee has voted to pull the curtain on the normally secretive Federal Reserve by subjecting the nation's central bank to a sweeping congressional audit.
State agencies have withheld $867,000 in grants and stimulus money from a Montana Indian tribe since auditors revealed lax accounting practices had opened the door to potential financial abuse.
An audit of the School Land Office has found accounting weaknesses in a division of the agency where a former employee is accused of embezzling nearly $1.16 million.
Retired state employees who return to government work are costing Utah hundreds of millions of dollars in benefits at a time the state retirement system is facing a $6.5 billion shortfall, a legislative audit released Wednesday said.
University of Nebraska employees racked up questionable and perhaps even personal expenses on credit cards that are paid with public dollars — partly because of "significant deficiencies" in university oversight, according to an audit released Thursday.
A Pennsylvania audit of hundreds of millions of dollars in government technology contracts released Wednesday found poor record keeping, insufficient central oversight and an increased potential for a conflict of interest when it came time to pick the winning bids.
The State University of New York chancellor has ordered that all records be protected from destruction in the investigation of the athletics program at Binghamton University.
In Iraq, even the successful reconstruction projects aren't trouble-free.
The Department of Energy should halt construction on a nuclear waste reprocessing facility in South Carolina after an internal investigation found several safety flaws, the head of a nuclear nonproliferation group said Monday.
There are certain mistakes or situations that are more likely than others to attract the attention of the Internal Revenue Service. Here are some things experts say can cause the IRS to scrutinize your tax return:
A company managing South Carolina's Savannah River Site nuclear complex altered findings in a 2007 financial audit to justify expenses to the government, federal investigators said in a report released Wednesday.
A $722 million project to restore Iraq's oil production facilities was undermined by weak management, contractor mistakes and Iraqi neglect, U.S. auditors say in a new report similar to many others examining the country's reconstruction.
A Defense Department public affairs program intended as a short-term effort to publicize groups and businesses supporting U.S. troops grew into a multimillion-dollar project run in a "questionable and unregulated manner," the Pentagon inspector general reported Friday.
Chinese government auditors have uncovered the misuse of millions of dollars in disaster assistance as part of an embezzlement probe spanning 10 central government departments, state media reported Thursday.
Private security contractor Blackwater Worldwide and its affiliates may have misrepresented their size to win more than $100 million in government contracts set aside for small businesses, federal auditors said Monday.
Pentagon auditors say billions of dollars in military spending is going unchecked because they are having trouble keeping pace with the ever-expanding defense budget and combat operations in Iraq and Afghanistan.
Inspectors warned Hill Air Force Base last year that its poor record-keeping could lead to inventory mistakes with ballistic missile parts without knowing a significant shipping error had already occurred, a newspaper reported Sunday.
Ohio's elections chief wants a fraction of the state's Democratic and Republican presidential primary votes recounted.
A new report from the Council of Better Business Bureaus shows a large percentage of customers are unhappy with the tax preparer they hired last filing season.
A Pentagon audit of a $5.2 billion fund used to train and equip Iraqi security forces found U.S. commanders used sloppy accounting and could not always show that equipment, services and construction were delivered properly, according to a report released Thursday.
Overhead costs ate up about a third of five major reconstruction projects in Iraq, according to a government audit.
UPDATED: Ron Paul's Amendment To Audit The Federal Reserve ApprovedA key House panel approved the Paul-Grayson Amendment by an overwhelming 43-26 Thursday afternoon, which will give watchdogs new authority to audit the Federal Reserve.
Bernanke Resists Audit of the Fed.With the Federal Reserve under more intense attack than at any time in decades, Ben S. Bernanke, the professorial chairman of the central bank, was schooled last month in how to handle the increased political demands of his job.
Audit Fed 'gutted' in committee"The Federal Reserve can enter into agreements with foreign central banks and foreign governments, and the GAO is prohibited from auditing or even seeing these agreements.
Kentucky Association of Counties Audit Finds 'Lavish' Spending, Gifts and Extra Benefits"State Auditor Crit Luallen's examination of the Kentucky Association of Counties found $3 million in questionable and "lavish" spending over the last three years." This audit was released on October 29, 2009.
Federal Reserve Accountability Act An Unacceptable Compromise - Yahoo! FinanceSenators Jeff Merkley (D-OR) and Bob Corker (R-TN) introduced the Federal Reserve Accountability Act, an attempted compromise on the issue of transparency for America's secretive central bank.
Fed Weighs Naming BorrowersThe Federal Reserve, under pressure from Congress to be more transparent, is "giving serious consideration" to releasing the names of firms that receive loans from the central bank, a top Fed official said Friday.
Auditing the Auditors: Contractor Oversight AWOLThis explains a lot: Little league teams have more players than the Defense Contract Management Agency (DCMA) has staffers overseeing how military contractors are spending the government's money.
What Would the United States Look Like Without the Federal Reserve?Since H.R. 1207 was introduced by Dr. Ron Paul in Congress this February, there has been a growing movement questions whether the Fed should continue to operate without more oversight and some question whether or not the Federal Reserve should continue to operate at all.
Broward schools: Audit finds $2 million worth of items missing from Broward County schools A Broward County School District audit found 1,044 items worth more than $2 million have disappeared from schools, WPLG-Ch. 10 reports. Twenty-five schools and three departments were audited between August 2008 and May 2009.
I wrote both my senators who were not listed as supporting the Sunshine Act. This is a response from one of them. I have yet to hear from the other: Dear Holly:
Frank Says House Will Likely Approve Audit of Federal Reserve Rep. Barney Frank, the chairman of the House Financial Services Committee, has endorsed a bill calling for an audit of the Federal Reserve.
Geithner: Auditing the Fed is a "line that we don't want to cross" In an interview released today by Digg and the Wall Street Journal, Treasury Secretary Timothy Geithner was pressured about the growing popular movement to Audit the Fed spearheaded by Texas Congressman Ron Paul.
Gallup Poll: Americans Turning Against Federal Reserve :Opinions souring as efforts to audit the Fed gain momentumAs momentum builds for Ron Paul's efforts to audit the Fed, a new Gallup poll shows that Americans are turning against the Federal Reserve, with just 30 per cent saying the agency is doing a good job.
Ron Paul "Audit the Fed!"from the article: "Experts and politicians agree that the Federal Reserve, with its immense economic power, has exercised more control over the economy than any other government body.
Federal Reserve chairman Ben Bernanke: "I Don't Know" Which Foreign Banks Were Given Half a Trillion Asked which European financial institutions received the money, which was handed out by The Federal Open Market Committee (FOMC), a component of the Federal Reserve System, Bernanke responded, "I don't know."
Ron Paul: Establishment Can No Longer Ignore Calls To Audit The Fed:Congressman says Washington elite are watching grassroots efforts very closely Texas Congressman Ron Paul has recorded a video update on the ongoing effort to audit the Federal Reserve, assuring supporters that the establishment in Washington is paying very close attention.
P10 billion cash advances of RP agencies unliquidated; COA restores pre-audit [Manila, Philippines--] UNLIQUIDATED cash advances of national government agencies and local government units have ballooned to P10 billion, prompting the Commission on Audit to restore the pre-audit of select government transactions starting next month.
Bernanke fearmongers that Fed audit would be "takeover" by Congress, and trigger economic collapseExcerpt: "Federal Reserve chair utilizes financial terrorism while rebuking attempt by Ron Paul, Congress to hold the independent organization accountable"
Ron Paul's "Fed Transparency" Bill Gets House Majority Support"Ron Paul, the famously anti-Federal Reserve Congressman from Texas has got 221 of his colleagues to sign onto a bill"
H.R.1207: Federal Reserve Transparency Act Now has 221 Cosponsors"This bill would repeal special audit protections for the Federal Reserve (31 USC 714 – Sec. 714) and calls for a full Government Accountability Office audit of the central bank to be completed before the end of 2010 and submitted to Congress for review."
Not everyone is directly affected by the latest injustices or is a victim of a crime but it is impossible not to be touched in some way by the absurdities and atrocities we see all around us everyday. Who is not made sad just hearing of these things?
Federal Reserve just up and LOST $9 Trillion DollarsThe Inspector General of the Federal Reserve, Elizabeth Coleman, cannot account for as much as 9 Trillion dollars!! She indicates that the Inspector General of the Federal Reserve does not have jurisdiction to audit the Federal Reserve. Wha ???!!!!!
124 Congressman Demand Audit of Federal ReserveA bill calling for the comptroller general of the United States to audit the private Federal Reserve is gaining widespread support in Congress, as 124 representatives have added their names to its growing list of co-sponsors.
Tiscali titsup fears grow Tiscali's struggle for survival has been dealt a blow by auditors, who refused to sign off its accounts, citing "fundamental uncertainties" about the firm's future.
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