Albuquerque Public Schools audit committee reviews fiscal 2025 audit plan, timeline and risks

The Albuquerque Public Schools Board of Education Audit Committee on June 24, 2025 held an external audit entrance conference with CliftonLarsonAllen LLP covering the fiscal year ending June 30, 2025, including audit work for the William W. and Josephine Dorn Community Charter School.

The audit firm’s engagement manager, Sheila Quintana Filosa, CPA of CliftonLarsonAllen LLP, told the committee the audit provides “reasonable but not absolute assurance” that the district’s financial statements are free of material misstatement and that auditors would follow a risk-based approach. Quintana Filosa said auditors will test areas with higher inherent risk — including revenue recognition, management override of controls, cash, restricted fund balances or net position, and accounting estimates — and highlighted that implementation of a new GASB standard on compensated absences adds implementation risk this year.

Why it matters: The entrance conference set the audit scope, the areas auditors plan to focus on for governance oversight and a timeline the district will use to produce statements and address potential findings. The committee and auditors discussed options for how repeat findings are…