Kentucky Revised Statutes Title VI. Financial Administration § 41.465.Annual financial statement audit

(1) (a) The commission shall annually procure a financial statement audit of all funds and accounts within its control.

(b) The audit shall be conducted in accordance with generally accepted government auditing standards.

(2) (a) The commission shall not enter into any contract with a certified public accountant for an audit unless the Auditor of Public Accounts has:

(b) If the Auditor of Public Accounts performs the annual audit required in subsection (1) of this section, the Auditor of Public Accounts shall maintain a record of all expenses incurred, including time worked on the audit, and these expenses shall be charged to the commission.

(c) If the Auditor of Public Accounts does not perform the annual audit, any contract with a certified public accountant shall specify the following: