We here the term “fraud, waste, and abuse” frequently and we ourselves use it often on these pages. The word “fraud” is well understood but what about the other two elements of this triad; waste and abuse? The GAO’s (Government Accountability Office) Yellow Book (i.e. Government Auditing Standards) includes the following definitions for Waste and Abuse.
Earlier this month, we highlighted a revised audit policy from the Defense Contract Audit Agency (DCAA)