Internal Audit Services

2026-11-03

1 . Contractor shall provide to PERA independent , objective assurance and consulting services designed to determine whether PERA ’ s risk management , control , and governance processes as designed and represented by management and the board at all levels are adequate and functioning in a manner to ensure : a . Financial and operational reports are reliable , accurate , and timely ; b . Risk management process are effective and significant risks are appropriately identified and managed . c . Ethics and values are promoted within the organization and governance level ; d . Agency is in compliance with policies , standards , procedures , and applicable laws and regulations . e . Significant legislative or regulatory compliance issues impacting the organization ’ s risk management and control processes ; f . Communication of information among the various governance groups occur as needed ; g . Information technology security practices adequately protect informational assets and are in compliance with applicable policies , rules , and regulations ; h . Internal controls are working appropriate to ensure PERA ’ s assets are properly safeguarded . 2 . The internal audit plan will be initiated , developed and finalized by the contractor after its initial surveys and reviews and presented with alternatives as a recommendation to the Audit and Budget Committee . The plan shall be designed to : a . Provide a wide range of quality independent internal auditing services for the Audit and Budget Committee and the Public Employees Retirement Association Board , b . Perform independent assessments on the systems of risk management , internal controls and operating efficiency , guided by professional standards ; and c . Support the Agency ’ s efforts to achieve its objectives through independent internal auditing services . 3 . The objectives of these services will assist the Agency in accomplishing its objectives by contributing to the evaluation and improvement of the effectiveness of risk management , internal control , and governance processes . The Firm should submit as part of its proposal suggested , pro - forma or ideal internal audit work plans / schedules covering a two - year rotational approach . The proposal shall set forth a draft work plan , including timing , and an explanation of the methodologies to be followed , to perform the services required . The plan shall include the start and end date and an estimate of time to complete major segments ( planning , interim field work , fieldwork and reporting ).

New Mexico

2026-05-02