1. The Contractor shall conduct a fiscal and compliance audit of the general-purpose financial statements and the combining, individual fund, and account group financial statements of the University for the period indicated. Such audit shall be conducted in accordance with generally accepted auditing standards, Government Auditing Standards, the Federal Single Audit Act, the provisions of OMB Uniform Guidance (UG) (federal funds which fall under the purview of UG shall be audited on an organization-wide basis), and Requirements for Contracting and Conducting Audits of Agencies (2.2.2 NMAC, or any update thereof), and other pronouncements as listed in 2.2.2 NMAC, Section 10 items regarding the following subjects: Governmental Auditing, Accounting and Financial Reporting Standards; State Compliance; and Federal Compliance. In conjunction with the UG audit, the Contractor shall perform additional procedures for Federally Forfeited Property for State & Local Law Enforcement Agencies program, as detailed in Section XI and Appendix D of the Department of Justice’s A Guide to Equitable Sharing of Federally Forfeited Property for State and Local Law Enforcement Agencies (Justice Guide). 2. The Contractor will perform separate audits, with separate engagement letters for the following entities: (a) New Mexico State University Foundation, Inc. as a separate 501(c)3 FASB entity and as a GASB discrete component unit of New Mexico State University. (b) KRWG-FM in compliance with Corporation for Public Broadcasting guidelines. (c) KRWG-TV in compliance with Corporation for Public Broadcasting guidelines...
