Government Accountability Office

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Government Accountability Office (GAO)

An investigative arm of Congress, formerly called the General Accounting Office. Members of Congress may request a wide variety of reports, analyses, and raw data,which is supplied in a nonpartisan manner by the GAO.It also recommends actions to be taken by Congress as a result of findings in the reports. Its Web site, www.gao.gov, contains an excellent search engine to find reports on housing,financial services,and natural resources,to name a few topics.

A few interesting reports related to real estate include

• ‘'Financial Institutions: Issues Regarding the Tax-Exempt Status of Credit Unions” (impor- tant because credit unions usually offer lower interest rates because of their tax-exempt status, but banks are crying “no fair” over the situation.)
• ‘'Real Estate Brokerage: Various Factors May Affect Price Competition”
• ‘'Title Insurance: Preliminary Views and Issues for Further Study”
• ‘'Catastrophe Risk: U.S. and European Approaches to Insure Natural Catastrophe and Terrorism Risks”
• ‘'Consumer Protection: Federal and State Agencies Face Challenges in Combating Predatory Lending”
• ‘'Residential Care Facilities Mortgage Insurance Program: Opportunities to Improve Program and Risk Management”
• ‘'Public Housing: Information on the Roles of HUD, Public Housing Agencies, Capital Markets, and Service Organizations”
• ‘'Elderly Housing: Federal Housing Programs and Supportive Services”

References in periodicals archive ?
In Honeywell Technology Solutions, (22) the GAO recommended that the Navy not reimburse the protester its protest costs arising from an issue that was not clearly meritorious and that was severable from the issue which prompted corrective action.
In the struggle to devise a system with effective, efficient consumer protections, there is a growing awareness that companies that have committed themselves to the uniform IMSA qualification process are committed to treating customers the right way in all 50 states, not just those states that have an effective marketplace oversight, which, as the GAO report indicates, is not many.
GAO can best be described as a player who misses ten half court three point shots and then hits one and says how about that coach?
The GAO also suggested that the IRS complete certification and accreditation of its e-filing systems, assess security risks and routinely monitor effectiveness of access controls dealing with such risks, improve data reliability and integrity controls and notify taxpayers of privacy risks associated with e-filing.
Indeed, the GAO cited one border patrol agent who owned a $200,000 house with an Olympic-sized swimming pool, five cars, one van, two boats, 100 weapons, $45,000 in U.
Acknowledging that Congress "has not paid much attention" to assisted living in the past, Grassley said the GAO study was conducted for "educational purposes.
The next largest component of the closeout costs, GAO said, is $4.
The GAO was asked to review and evaluate these draft strategic plans.
Certain GAO recommendations for review of specific aspects of our management clearly have merit, and reviews of a number of issues highlighted in the GAO'S report are currently under way.
The GAO report concludes, "[a]lthough we expect difficulties with arm's length pricing to continue, we can find no problem-free alternative that would dictate Treasury's abandoning its current course [of working to resolve the problems with the arm's length standard].
Only 10 percent were "qualified" and 21 percent "probably qualified," according to the GAO.