“what would an audit accomplish?
are there accounting rules specifically governing the Fed?”
EVERY government agency should be audited from time to time. It’s in the interest of the people. The only way to TELL if any shenanigans are going on is through an audit.
Every Fed bank is audited once a year by an outside CPA firm and overseen to the limit of the law by the GAO. What more are you looking for.
again I ask........ audited against what rules?
Unlike other government entities, the Fed has no budget for the banking activities to uncover theft or misapplication of taxpayer funds
I don’t disagree with your point that there should be audits, there actually are I believe, but for the fed, what are the criteria? what accounting rules govern?