No audit? No problem.

Every year, between five and six billion tax dollars are meted out to some 1,300 quasi-governmental entities in the State of New Mexico.

Each of them is supposed to conduct an independent audit every year, and then forward the results to to Office of the State Auditor.

But if they don't, no problem. There is no penalty for failing
to comply with that "requirement".

What is, do you suppose, the end result of that policy?
Do you suppose that many quasi-governmental agencies simply do not do audits? Do you suppose there might be some waste; some outright theft?

If you want to get away with stealing money, they say, keep lousy books. No one goes to prison for keeping lousy books.

State Auditor Hector Balderas has estimated that as much as
$300,000,000.00 is lost every year to incompetence and corruption; losses which would be mitigated greatly, were there effective auditing of the spending of public resources; were quasi-governmental agencies actually compelled to complete annual independent audits and submit them to the Auditors Office for review; were there some real consequence for those who decide not to conduct audits, and not to forward those audits to the SAO for review.

But they aren't, and they don't, and taxpayers are footing the bill.

Which begs at least one question;

wtf? ??, and why not?

... ok, that's two questions.