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Wednesday, April 10, 2013

Recovery Board opens next frontier in financial accountability

A funny thing happened when Congress approved the American Recovery and Reinvestment Act in February 2009.

While politicians debated whether in was wise to invest more than $804 billion in an effort to stimulate the economy, lawmakers added a provision to the bill giving the Recovery Accountability and Transparency Board, an independent, non-partisan, non-political agency, oversight of the funds.

The "RAT Board" had two goals. One was to provide transparency over the Recovery money, and the other was to root out fraud, waste and mismanagement in the spending of those funds.

Four years later, debate may continue about the success or failure of the Recovery Act. But many consider the RAT Board to be a pioneer in government accountability and transparency.

Federal News Radio's week-long, on-air and online series, "Rise of the Money People: Financial management moves front and center as agencies make the final assault on wasted billions ," focuses on the methods and tools agencies employ in rooting out waste, fraud and abuse in government spending.

-Michael O'Connell, FederalNewsRadio.com

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