A. The secretary of state shall conduct a thorough examination of at least ten percent of all reports filed during a year by reporting individuals, selected at random at least forty days after the general election and ten days after the April reports are filed in a non-election year, to determine compliance with the provisions of the Campaign Reporting Act. The examination may include an investigation of any discrepancies, including a cross-reference to reports filed by any other reporting individual. A reporting individual shall be notified in writing if a discrepancy is found in the report filed and shall be permitted to file a written explanation for the discrepancy and come into voluntary compliance within ten working days of the date of the notice.

B. After the date stated in the notice for submission of a written explanation, the secretary of state shall prepare an annual report of any unresolved discrepancies found after examination of the random sample provided for in Subsection A of this section. A copy of this report shall be transmitted to the state ethics commission and the attorney general for enforcement pursuant to the provisions of Sections 1-19-34.6 and 1-19-36 N.M. Stat. Ann.. This report is a public record open to public inspection and subject to the retention and destruction provisions set forth in Section 1-19-32 N.M. Stat. Ann..