It's already been a thing for quite some time:

https://en.wikipedia.org/wiki/Office_of_Inspector_General_(U...

They are independent of the things they review, they find inefficiency, overspending, fraud, and embezzlement. They make their reports public and work with transparency. There are also other similar departments like CIGIE. There have been very substantial results.

What DOGE is doing is not finding inefficiency. They are doing two basic things. 1) Completely eliminating programs they don't think the US should be spending money on. And 2) Reducing headcount. Both of these actions may reduce costs, but may end up costing the US more money in the long term.