If the Fed is fully audited, why does Janet Yellen oppose it? Yeah, think about it.
“I strongly oppose Audit the Fed,” said Federal Reserve chief Janet Yellen, saying that it would “bring short-term political pressures to bear” on the central bank and dissuade it from making the “hard choices” needed to curb inflation.
http://fortune.com/2015/02/24/federal-reserve-janet-yellen-audit/
It’s the Fed’s monetary policy decisions that aren’t audited. The money is all audited and accounted for. It’s just Congress barred the congressional accounting office from auditing the decision making process. So deliberations about policy and the decisions themselves are off limits. That was to keep it from becoming a political football.
But all the transactions are audited and accounted for.