164A.570 Annual audit. - Kentucky Statutes

Download pdf

Loading PDF...

Page 1 of 1 164A.570 Annual audit. The governing board of any postsecondary educational institution making the election
prescribed in KRS 164A.560 shall engage a qualified firm of certified public accountants
experienced in the auditing of institutions to conduct an annual examination of the
institution's financial statements in accordance with generally accepted auditing standards
for the purpose of submitting an independent opinion, and preparing a report of findings
and recommendations concerning internal accounting controls and procedures, and
compliance with KRS 164A.555 to 164A.630. The secretary of the Finance and
Administration Cabinet may prescribe the minimum scope of any such audit. The
opinion, with the findings and recommendations, shall be forwarded to the Governor, the
secretary of the Finance and Administration Cabinet, the Auditor of Public Accounts, the
director of the Legislative Research Commission, the president of the Council on
Postsecondary Education, and members of the governing board. Effective: May 30, 1997
History: Amended 1997 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 139, effective May 30, 1997. -- Created 1982 Ky. Acts ch. 391, sec. 5, effective July 15, 1982.