Intelligence Community Accountability Act of 2004

Intelligence Community Accountability Act of 2004 - Amends the National Security Act of 1947 to establish an independent Office of Inspector General for Intelligence (Office), to be headed by an Inspector General for Intelligence (IG) appointed by the President with the advice and consent of the Senate.

Gives the IG responsibility for: (1) investigating, auditing, or reviewing each significant failure of the intelligence community; (2) identifying means of improving the discharge of intelligence missions; (3) keeping the Director Central Intelligence (DCI) informed about significant failures in the discharge of such missions, corrective actions, and means of improvement; and (4) identifying policies and practices of the intelligence community that may serve as a model for other components of the U.S. Government.

Authorizes the IG to commence investigations.

Requires the IG and other Inspector Generals in the intelligence community to mutually cooperate in the performance of their respective duties.

Authorizes the IG to report to the President, DCI, or head of any element of the intelligence community on investigations conducted by the IG, as appropriate.

Requires the IG to: (1) submit to the Attorney General a report on information, allegations, or complaints received by the IG regarding violations of Federal criminal law that involve intelligence community programs or operations; and (2) submit biannual reports on the activities of the IG and Office to the congressional intelligence committees.