In the wake of a blistering report that branded the city of Santa Fe’s one-person internal audit department as ineffective and incompetent, the city is moving forward with a plan to outsource internal audit and all audit functions in the upcoming fiscal year.
The city finance committee endorsed a recommendation Monday by the advisory audit committee to hire an “external qualified auditing firm.” The audit committee recommendation follows a similar suggestion from Albuquerque-based McHard Accounting Consulting, which last year conducted a fraud assessment report on behalf of Santa Fe that recommended that internal audit functions be shifted “to an accounting firm with the appropriate experience and certifications.”
