PERSONAL SERVICE CONTRACT FOR INTERNAL AUDIT CONSULTING SERVICES BETWEEN:

KENTUCKY STATE UNIVERSITY

AND

CBIZ RISK & ADVISORY SERVICES, LLC

PSC 23-011

This Personal Service Contract is entered into by and between Kentucky State University ("KSU") and CBIZ Risk & Advisory Services, LLC ("Contractor") for internal auditing consulting services that will be utilized to support Kentucky State University. The initial PSC is effective from November 10, 2022, through June 30, 2023.

KSU and Contractor agree to the following:

I. Scope of Contract

Contractor

  1. Internal audit services for engagements including processes such as operational, financial, information technology, compliance audits, risk assessments, fraud investigations, advisory and consulting, data analytics and professional training.
  2. Work shall be conducted in accordance with professional standards (American Institute of Certified Public Accountants – AICPA, Institute of Internal Auditors – IIA, Information Systems Audit and Control Association – ISACA, Association of Certified Fraud Examiners – ACFE) as established by successful Offeror.
  3. Findings and recommendations to strengthen internal control and accountability within departments, colleges and system office will be presented to the Kentucky State University Board of Regents. Written reports are expected quarterly, with final determination as to face to face presentation of the reports to be determined by the Board of Regents. – Follow-Up and communication on all routine inquiries and open issues by KSU will be required within five (5) business days.
  4. Work assigned will be for specific engagements staffed and led by the contractor contracted for this initiative.
  5. Contractor will share industry knowledge and best practices with Kentucky State University Board of Regents and University leadership.
  6. All work will be performed in compliance with the US Standards of Internal Auditing.
  7. The contractor shall maintain confidentiality of all data and related reports for Kentucky State University.
  8. The Contractor's Engagement Letter and Fee Schedule are attached.