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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? View a helpful step by step audit contracting process.
Audit Firms and Government Agencies
Interested in contracting to audit a government agency? Only audit firms approved by the State Auditor’s Office may contract for an audit. View a current list of approved audit firms.
Audit firms can click here to learn how to submit applications to our office or to renew their current firm profiles.
Government agencies can click here to access information about procuring an auditor.
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. Click here to view the current schedule of statewide trainings the State Auditor conducts 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
The prior year fees for governmental agencies can be used as a tool to help agencies and firms.