The Contractor shall use its best efforts to complete within the initial term of the contract two (2) annual examinations of Kentucky State University financial reports for Fiscal Year 2021 and for Fiscal Year 2022 in accordance with generally accepted auditing standards for financial and auditing compliance audits contained in Government Auditing Standards, issued by the United States General Accounting Office for the purpose of submitting an independent opinion, and preparing a report of findings and recommendations concerning internal accounting controls, accounting procedures, any weakness in control, policies, procedures, and instances of non-compliance with applicable law and regulations, including KERS 164A.555 through KRS 164A630. The parties recognize, however, that it is likely that the Contractor may need to carry the work forward into a renewal period.

The Kentucky State University Foundation is a component unit of Kentucky State University and is presented as such in the financial statements of the University.

The Contractor's Engagement Letter and Fee Schedule are attached.

1. It shall be the responsibility of Kentucky State University to provide appropriate guidance to the Contractor to facilitate the successful completion of the projected work and work product development.

Procurement Statutes, Regulations and Policies

The parties' engagement letter

This written agreement and any subsequent written amendments to this agreement.