Audit

Audits will focus on the direct costs of research, including the individual transactions that post to Banner and are invoiced to the agency.

Reasons audits are important:

  • A successful audit supports the University’s mission and reputation of adhering to federal regulations and guidance on sponsored funding
  • An audit with findings can lead to possible loss of funding, settlements, and damage to the University’s reputation

Each year, audits are performed internally and externally to ensure NMSU is compliant with government regulations. An external audit can be requested from an agency at any time and could include an on-site visit. If a request is received from an agency to review NMSU’s award records for the purpose of an audit, the request should be forwarded to NMSU’s official audit liaison within the Accounting and Finance department (AFR). AFR is responsible for coordinating and compiling documentation to satisfy the audit request. SPA serves as the liaison to NMSU’s official audit liaison when the audit involves restricted funding.

Below are the types of audits NMSU will undergo:

  • Pre-award on proposals
  • Annual single audit (external)
  • Internal audit
  • External – Agency specific, Office of Inspector General (OIG), Office of Naval Research (ONR)

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