A. Every conservator shall file an annual report and account with the appointing court within thirty days of the anniversary date of the conservator’s appointment, upon the conservator’s resignation or removal or upon termination of the conservatorship. A copy of the annual report and account shall also be submitted to the district judge who appointed the conservator or the conservator’s successor, to the incapacitated person and to the incapacitated person’s guardian, if any. The report shall include information concerning the progress and condition of the person under conservatorship, a report on the manner in which the conservator carried out the conservator’s powers and fulfilled the conservator’s duties and the conservator’s opinion regarding the continued need for conservatorship. Only reports that substantially comply with forms approved by the supreme court shall be accepted by the court as fulfilling the requirements of this section.

B. Any conservator may rely on a qualified health care professional’s current written report to provide descriptions of the physical and mental conditions required in the report provided for in Subsection A of this section.

C. The court shall not waive the requirement of an annual report and account under any circumstance, but may grant an extension of time. The court may require the filing of more than one report and account annually.

D. The conservator may be fined twenty-five dollars ($25.00) per day for an overdue interim or annual report and account. The fine shall be paid to the current school fund.

E. In connection with an account, the court may require a conservator to submit to a physical check of the property in the conservator’s control, to be made in any manner the court may order.

F. In any case in which property consists in whole or in part of benefits paid by the United States department of veterans affairs to the conservator or the conservator’s predecessor for the benefit of the protected person, the department office that has jurisdiction over the area is entitled to a copy of any report and account filed under N.M. Stat. Ann. Chapter 45, Article 5.

G. A conservator shall fully comply with the requirements of any audit of an account, inventory, report or property of a protected person.

H. The court shall forward all reports submitted under Section 45-5-409 N.M. Stat. Ann. to the office of the state auditor for review within five business days of receipt of the report. The office of the state auditor shall review the report filed by the conservator

and decide whether a full audit is necessary. The office of the state auditor shall submit, within fifteen business days of receiving a report from the court, either a letter of review declining to conduct a full audit or a letter of acceptance to conduct an audit. If the office of the state auditor decides to conduct an audit of the contents in the report, an audit report shall be filed with the court within ninety calendar days of filing an acceptance for an audit. The state auditor shall have the authority to subpoena any documents, records or statements from any individual, company, entity or financial institution necessary to conduct an audit of the contents of a conservator’s report. The office of the state auditor shall be available to testify at any court hearing concerning the results of the audit report.