Don't you think that The Federal Reserve should be audited by the Government? ?

It is audited. But, I know it is not up to anybody's satisfication. There is indeed outisde agency invloved in the audit. The Federal Reserve System uses advisory committees in carrying out its varied responsibilities. Three of these committees advise the Board of Governors directly. They are Federal Advisory Council,Consumer Advisory Council and Thrift Institutions Advisory Council. One of the keys to understanding the Federal Reserve is the Federal Reserve balance sheet (or balance statement).In accordance with Section 11 of the Federal Reserve Act, the Board of Governors of the Federal Reserve System publishes once each week the "Consolidated Statement of Condition of All Federal Reserve Banks" showing the condition of each Federal Reserve bank and a consolidated statement for all Federal Reserve banks