739 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 postsecondary institutions may elect to

perform and delegate the responsibility for certain financial management

functions by promulgating administrative regulations. This administrative

regulation implements the provisions of KRS 164A.570 at the Kentucky Community

and Technical College System.

 

      Section 1. The Kentucky Community and

Technical College System Board of Regents elects to engage a qualified firm of

certified public accountants for the purpose of submitting an annual

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. (26 Ky.R. 1315;

eff. 2-14-2000.)