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?
I’m an accountant. I would begin with the most basic rule. All funds coming in and out would be followed back to their sources and forward to their destinations, to determine discrepancies, and any possible fraud. Are funds being booked to appropriate accounts etc. Whether the Fed has a budget is immaterial.