David M Walker has stepped down as the head of the US Government Accountability Office to join a $1bn (£498.5m) think tank.

Gene L Dodaro has now been sworn in as acting comptroller General after Walker appointed him upon his resignation.

Walker has left his role to become president of the Peter G Peterson Foundation, which has pledged to sink $1bn of cash into addressing national sustainability issues such as health-care costs, trade and budget deficits, energy consumption and education.

Last year, Walker made waves at an CIPFA conference alongside his former opposite number Sir John Bourn after urging public sector watchdogs to be more involved in examining the role of government and its policies.

The head of the GAO is appointed to a 15-year term, the longest of any post in the US government and efforts have begun to find a permanent replacement.

'Mr Dodaro will serve in this position until the President nominates and the US Senate confirms a successor from a list of candidates proposed by the Congress,' said the GAO.

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