262.763 Audit of accounts -- Report of accountant -- Compliance with KRS
202 words·~1 min read·
/ky/262-763A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
65A.010 to 65A.090 -- Exception.
(1)Notwithstanding KRS 65A.030, an audit of the accounts of each watershed
conservancy district shall take place once every four
(4)years unless the watershed
conservancy district receives or expends one million dollars ($1,000,000) or more
in any year, in which case the watershed conservancy district shall provide for the
performance of an annual audit. The audit shall be conducted in accordance with
audit standards and requirements stipulated in KRS 65.065(5). The board of
directors of each watershed conservancy district shall select to make the audit
certified public accountants who have no personal interest in the financial affairs of
the board of directors or in any of its officers or employees.
(2)Immediately upon completion of each audit, the accountant shall prepare a report of
his or her findings and recommendations. This report shall be to the board of
directors and in such number of copies as specified by the board of directors. The
actual expense of any audit authorized under this section shall be borne by the
watershed conservancy district.
(3)The board of directors shall comply with the provisions of KRS 65A.010 to
65A.090, except that KRS 65A.030 shall not apply to watershed conservancy
districts.