Currently there is an effort in the U.S. House of Representatives to require a full audit of the Federal Reserve. Information on the efforts can be found by searching the Campaign for Liberty Web site. Updates on the progress of the bill’s move through the House can be found here.
The video below highlights the need for such an audit. It is a clip of a congressman asking the inspector general in charge of overseeing the programs of the Fed if she has information on where the money spent and lost by the unusually secret organization has gone. To sum it up: She has no clue! It figures.