Reviews 58 government corpations (GC) presently in operation; their reported adherence to 15 federal statutes which cover a diverse range of legislative requirements; and proposals to create additional GCs. Corps. include: gov't. department agencies, gov't. corps. (owned and controlled by the public sector) and gov't. sponsored enterprise and private corp., (owned and controlled by the private sector.). Examples: Export-Import Bank, Fed. Housing Admin., Amtrak, OPIC, RTC, TVA, FDIC, Legal Serv. Corp., Corp. for Public Broad., Postal Service. 85 charts and tables.

Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.

This assessment of government corporations examines their records and identifies advantages and failures. The author challenges the reader to think creatively about the government corporate form and ways to reinvent it, capitalizing on its strengths and compensating for its shortcomings.