“No one with power in the government should be independent as they are.”
Much of the Fed is subject already to GAO audit. Were you aware of this? I was not...
http://www.federalreserve.gov/newsevents/testimony/alvarez20090925a.htm
According to current law the following are not allowed to be audited:
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
(c)
http://www.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00000714——000-.html