Quality Assurance
New Mexico auditor's office gets clean reports after peer review.
Work of the State Auditor's Office is governed by strict adherence to professional standards promulgated by government agencies and professional organizations including the Government Auditing Standards Board, the Financial Accounting Standards Board, the federal Office of Management and Budget, the American Institute of Certified Public Accountants, as well as various state and federal laws and regulations.
These standards require that auditors remain independent, receive continuing professional education and address the role of the auditee in resolving and tracking findings and recommendations. The Office of the State Auditor has a control system to ensure the quality of audit work. The system includes supervisory review of all work products as well as management review of audit reports and critical supporting working papers.
Like other state agencies, an independent CPA firm annually conducts a financial and compliance audit of the State Auditor's Office.
The office also receives an external peer review every three years under direction of the National State Auditors Association. Members of audit staffs from other states review the office's quality assurance system and working papers for compliance with auditing and accounting standards. The most recent peer review resulted in an unqualified report.
In Good Company
The New Mexico State Auditor's Office works with several professional organizations in auditing and accounting. Many of these groups are also partners in providing professional training.
They include:
- National State Auditor's Association
- Southwest Intergovernmental Audit Forum
- New Mexico Society of Certified Public Accountants
- New Mexico Society of Public Accountants
- American Association of Hispanic CPAs
- Government Financial Officers Association
- National Association of State Auditors, Controllers and Treasurers
- Association of Government Accountants
- Institute of Management Accountants
- National Association of Certified Fraud Examiners
- New Mexico Foundation for Open Government
