GOVERNMENT ACCOUNTABILITY OFFICE Definition

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GOVERNMENT ACCOUNTABILITY OFFICE (GAO) is the organization in the U.S. Congress that investigates the performance of the federal government. GAO evaluates the use of public funds and the performance of federal programs, while also providing analytical, investigative and legal services in order to support to Congress in its policy formulation and decision making processes. Most GAO reports are initiated at the request of Congress, while some are initiated by the agency itself or are required by law.

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CEO is an acronym for Chief Executive Officer. The CEO is the principle individual responsible for the activities of a company.

BOND RATING is a measure of credit quality ranging from AAA to D by bond rating services such as Moody's, Standard & Poor's or Fitch's. Bonds rated BB+ or lower by Standard & Poor's or Ba1 or lower by Moody's are not investment grade.

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