765 KAR 1:030.

Annual audit.

 

      RELATES TO: KRS

164A.570

      STATUTORY

AUTHORITY: KRS 164A.560

      NECESSITY,

FUNCTION, AND CONFORMITY: The governing boards of the public institutions of

higher education may elect to perform the financial management functions of KRS

164A.555 to 164A.630 by issuing administrative regulations to do so. This

administrative regulation implements the provision of KRS 164A.570 at the

University of Kentucky.

 

      Section 1. The

University of Kentucky Board of Trustees elects to engage a qualified firm of

certified public accountants for the purpose of submitting an independent

opinion concerning the internal accounting controls and compliance with the

provisions of KRS 164A.560, 164A.565, 164A.575, and 164A.620. The engagement of

the qualified firm, scope of the audit, and report of findings shall be in

accordance with the provisions of KRS 164A.570. (17 Ky.R. 709; eff. 10-14-90.)