Bill > SB107

This bill amends New Mexico's procurement laws to require post-contract audits of state agency contracts that have paid a single contractor $10 million or more. The post-contract audits must review the contractor's books and records to ensure the scope of services, work plan, or other deliverables were properly performed and the payments were appropriate and within the contract terms. The audits must be paid for by the contractor, performed by the state auditor or their designee, and conducted in accordance with generally accepted auditing standards. The provisions of the bill apply to contracts made or entered into on or after July 1, 2017.

Budget and Finance, Government Affairs

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=107&year=17