**GAO-07-1089T**                      Published: Jul 11, 2007. Publicly Released: Jul 11, 2007.                  

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## Highlights

The federal inspectors general (IG) play a critical role in addressing mismanagement of scarce taxpayer dollars. In the coming years, as we enter a period of escalating deficits and increasingly limited resources, GAO believes that the greatest single source of savings will come from bold, decisive efforts to transform what government does and how it does business, and to hold it accountable for results. Therefore, it is important that an independent, objective, and reliable IG structure be in place to ensure adequate audit and investigative coverage of federal programs and operations. This statement offers GAO's views on (1) the principles of independence and how they apply to IG offices, (2) leveraging IG work as a part of overall federal oversight, (3) structural streamlining of IG offices for resource efficiencies, and (4) matters discussed in a GAO forum on IG issues. This statement draws on provisions of the IG Act, professional auditing standards, prior GAO reports and testimony, and information reported by the IGs.

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## Topics

Justice and Law Enforcement

AccountabilityAudit oversightAudit reportsAuditing standardsAuditorsFederal agenciesFinancial statement auditsFraudIndependent agenciesInternal auditsInternal controlsInvestigations by federal agenciesReporting requirements