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License for AlarmDeviceInstallation.rar 01e38acffe A: You need to use the standalone version of the Publisher software. News Inspector General for Troubled Asset Relief Program The U.S. Treasury Department's Inspector General for TARP is taking action to ensure the government's watchdog has the authority to perform its mission. The Government Accountability Office, in a decision issued last month, has decided that the Inspector General for TARP does not have "statutory authority" to audit or oversee the government's overall performance in implementing the financial stabilization plan (FSP). While the Inspector General for TARP, Stuart M. Levey, should be able to continue to conduct oversight of the FSP's individual components, his authority to audit or oversee the Treasury Department's overall performance in implementing the FSP must be reversed, according to the GAO. GAO's decision comes as TARP Inspector General Levey has been conducting a wide-ranging review of the FSP, including auditing transactions involving the government's use of the program and undertaking an analysis of the federal oversight of the $700 billion in taxpayer funds provided to date. "I appreciate the efforts of the GAO to provide independent oversight of the financial stabilization program," said TARP Inspector General Levey, "and the Agency's commitment to implementing recommendations to restore our full oversight authority." The government must be held accountable for the use of taxpayer dollars in implementing TARP, he added. "The Treasury Department has agreed to respond to our recommendation to restore statutory oversight authority as early as September 15, 2008. We are pleased that the Treasury Department is committed to this date and we will be closely monitoring this action." Under the Inspector General for TARP Act, the GAO will continue to play a critical role in the oversight of the program. The Treasury Department has begun an examination of the GAO's review and plans to take appropriate action. The Inspector General for TARP was created by the Financial Stability Oversight Act of 2007. The Inspector General for TARP conducts audits, investigations, evaluations, and other activities in support of the Treasury Department's oversight mission. The Inspector General for TARP will provide independent oversight of the operations and financial management of TARP in order to determine whether the program has been effective in carrying out its mission of helping to stabilize financial markets and protect taxpayers. The Inspector General for TARP will be independent of the Treasury Department's activities and the federal taxpayer.


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