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.)