Specifications include, but are not limited to: The Contractor shall conduct a financial and compliance audit of the Agency for Fiscal Year 2023 in accordance with auditing standards generally accepted in the United States of America, Government Auditing Standards, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, the Audit Act, Sections 12-6-1 through 12-6-15, NMSA 1978, and the Audit Rule (Section 2.2.2.1 NMAC et seq.). 1. Deliverables that the Independent Public Accountant (IPA) is responsible for providing include: a. Engagement Letter and Provided by Client Listing (PBC List) – to be provided to the Agency within ten (10) days after the audit entrance conference. b. Financial Statements – Draft copy to be completed and submitted to Agency Management for review two (2) days prior to the deadline established by DFA. c. Final Audit Report – to be submitted to the State Auditor’s Office (OSA) and the State Controller (DFA/FCD) on or before the deadline established by OSA – including the Independent Auditor’s Report; Financial Statement Footnotes; Supplemental Schedules; Schedule of Expenditures of Federal Awards (SEFA); Audit findings; Status of Prior Year Findings; and all other materials required by Federal or State oversight entities. d. IPA to conduct Audit Progress Meetings, at least semi-monthly, with Agency’s financial and executive management staff.
