Accounting Act

The Bureau of the Budget, OMB's predecessor, was established as a part of the Department of the Treasury by the Budget and Accounting Act of 1921 .

Specifically, the Budget and Accounting Act of 1921 directs each agency to give GAO the information the Comptroller General requires about the duties, powers, activities, organizations, and financial transactions of the agency.

Statutory Responsibilities Through the Budget and Accounting Act of 1921, the Congress established GAO in the legislative branch with the broad role of investigating "all matters relating to the receipt, disbursement, and application of public funds" and to "make recommendations looking to greater economy or efficiency in public expenditures."