KOB - More audit problems could be in store for the New Mexico Finance Authority as it comes under investigation by Auditors and the New Mexico's Securities Division. On Monday, NMFA CEO Rick May said they may be behind schedule in the auditing process for fiscal year 2012 because they still don't have a complete audit for 2011. In July, the 2011 NMFA audit that was presented to investors was found to be a forgery with much of the report cut and pasted from 2010. The man believed to be behind the forgery, former controller Greg Campbell resigned a month before the audit was discovered. Campbell told 4 On Your Side he had no malicious intent when putting together the audit. Investigators have been trying to determine whether any money was taken and look into the possibility of mismanagement of millions of dollars in bond money. But even before a fake audit was uncovered at the New Mexico Finance Authority, managers had problems meeting deadlines. If the audit is late this year, it will be the 4th consecutive year that the audit has been filed past the deadline. 4OYS asked Governor Susana Martinez if she was comfortable with management at the NMFA after credit agencies had put the authority under review for a downgrade out of concerns over management and oversight. Read More News New Mexico
State of New Mexico could owe millions following NMFA fake audit
KOB - More audit problems could be in store for the New Mexico Finance Authority as it comes under investigation by Auditors and the New Mexico's Securities Division. On Monday, NMFA CEO Rick May said they may be behind schedule in the auditing process for fiscal year 2012 because they still don't have a complete audit for 2011. In July, the 2011 NMFA audit that was presented to investors was found to be a forgery with much of the report cut and pasted from 2010. The man believed to be behind the forgery, former controller Greg Campbell resigned a month before the audit was discovered. Campbell told 4 On Your Side he had no malicious intent when putting together the audit. Investigators have been trying to determine whether any money was taken and look into the possibility of mismanagement of millions of dollars in bond money. But even before a fake audit was uncovered at the New Mexico Finance Authority, managers had problems meeting deadlines. If the audit is late this year, it will be the 4th consecutive year that the audit has been filed past the deadline. 4OYS asked Governor Susana Martinez if she was comfortable with management at the NMFA after credit agencies had put the authority under review for a downgrade out of concerns over management and oversight. Read More News New Mexico 
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