{"data":{"id":"us-ky/krs-41.465","jurisdiction":"us-ky","citation":"KRS 41.465","heading":"Annual financial statement audit.","body":"(1) (a) The commission shall annually procure a financial statement audit of all funds\nand accounts within its control.\n(b) The audit shall be conducted in accordance with generally accepted\ngovernment auditing standards.\n(2) (a) The commission shall not enter int o any contract with a certified public\naccountant for an audit unless the Auditor of Public Accounts has:\n1. Declined in writing to perform the audit; or\n2. Failed to respond within fifteen (15) days of receipt of a written request\nfor an audit.\n(b) If the  Auditor of Public Accounts performs the annual audit required in\nsubsection (1) of this section, the Auditor of Public Accounts shall maintain a\nrecord of all expenses incurred, including time worked on the audit, and these\nexpenses shall be charged to the commission.\n(c) If the Auditor of Public Accounts does not perform the annual audit, any\ncontract with a certified public accountant shall specify the following:\n1. The certified public accountant shall forward a copy of the audit report\nand management l etters to the Auditor of Public Accounts and to the\nLegislative Research Commission; and\n2. The Auditor of Public Accounts shall have the right to review the\ncertified public accountant's work papers.","path":["KRS Chapter 41"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49239","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:01Z","sha256":"f323dc4ef5a9c5eeb6de21d48dff0d0cb15ca76ba0d80b514cc673213b5321b6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-41.460","next":"us-ky/krs-41.470"},"notice":"GroundRules: Original legal text. Not legal advice."}