Requirement for Annual Audit
KSU shall obtain a financial statement audit on an annual basis, as required by KRS 164.096, KRS 164A.570, and KSU's bylaws (The Gold Book).
Selection of the Independent Auditor
The KSU Board of Regents holds the final authority for selecting the independent auditor.
The selection will be based upon the recommendation of the Board of Regents' Finance & Advancement Committee.
The procurement process for selecting an auditor shall follow all requirements of the Kentucky Model Procurement Code.
Review and Approval of the Audit
The Finance & Advancement Committee will review and approve the draft audit report, including the management letter and any management responses.
The final, issued audited financial statements will be presented to the full Board of Regents for its formal approval.
REFERENCES AND RELATED MATERIALS:
The Gold Book (KSU Bylaws)
KRS 164.096
KRS 164A.570
Kentucky Model Procurement Code (KRS Chapter 45A)
CONTACTS:
SubjectOfficeTelephoneE-mail
Policy QuestionsCFO/Vice President of Fin. & Admin.(502) 597-6429Melissa.Hicks@kysu.edu
HISTORY:
Revision TypeDate of Issuance/RevisionDrafter(s)/Editor(s)
Issued (New Policy)August 2024YPTC
Substantive RevisionsJune 2025Zach Atwell