Financial Audits

The Audit Contracting Process

The State Auditor is required by New Mexico law to conduct annual financial audits of all government agencies in New Mexico.  The State Auditor’s Office administers a competitive process whereby audit firms may submit applications and proposals to perform financial audits of certain agencies.

Step by Step Guide of the Audit Contracting Process

Need a simple explanation of the audit contracting process?

Audit Firms and Government Agencies

Interested in contracting to audit a government agency?

View a current list of approved audit firms

Only audit firms approved by the State Auditor’s Office may contract for an audit.

Audit Rule and Statewide Trainings

Audits contracted for by the State Auditor’s Office must be performed in accordance with generally accepted auditing standards and the Audit Rule promulgated by the State Auditor.

View the current schedule of statewide trainings

The State Auditor conducts these trainings to educate government agencies and audit firms about the requirements of the audit contracting process.

Notification Letter

Agency must receive written notification from the state auditor before beginning the selection process. Notification letters are the Agencies approval to acquire an auditor for the current fiscal year. Notification letters are sent out on yearly basics.

Prior Year Audit Fees for Governmental Agencies

View prior year fees for governmental agencies

May be used as a tool to help agencies and firms.