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
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Audit Firms and Government Agencies
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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.
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.