Board of Regents Kentucky State University Page 50
As part of obtaining reasonable assurance about whether the University's financial statements are free of material misstatements, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
We noted certain other matters that we have reported to management in a letter dated October 25, 2012.
The University's response to the finding identified in our audit is described in the accompanying Schedule of Findings and Responses. We did not audit the University's response and, accordingly, we express no opinion on it.
This report is intended solely for the information and use of the management and Board of Regents of the University and is not intended to be and should not be used by anyone other than these specified parties.
October 25, 2012
Lexington, Kentucky