Final answer:
The Office of Management and Budget (OMB) oversees the actions of the executive bureaucracy, including reviewing federal regulations and auditing agencies for compliance.
Step-by-step explanation:
When considering who regulates and audits all agencies for compliance with governmental regulations, the Office of Management and Budget (OMB) is notably responsible for overseeing the actions of the executive bureaucracy. The OMB prepares the executive budget proposal, oversees budgetary implementation, and coordinates and reviews federal regulations. It also reports to the president on the activities of various executive departments and agencies, thereby playing a central role in the oversight and regulatory compliance process. Therefore, the correct answer to the question is C) Office of Management and Budget (OMB).