UofL Foundation meets to discuss audit

LOUISVILLE, Ky. (WHAS11) -- We now know what type of audit the UofL Foundation will use as it looks to answer questions and settle the controversy that's been brewing for months.

Today's special meeting of the UofL Foundation Board was as calm as any meeting in months. While members said they needed more time to decide how to deal with losses to a loan made by the foundation to one of its companies, there was an update to questions about auditing the books.

The chairperson of a joint Foundation and Trustees committee said they have requested companies bid on a forensic audit--something Trustees had demanded take place.

“We have received questions from about ten different firms. Of those, all of the national big four firms are involved about three or four other national CPA firms that have forensic expertise and another three or four non-CPA firms that specialize in forensic audits,” Diane Medley, chair of the joint committee said.

Medley said there had been good progress and that answers are due next week to questions by some interested companies.
 


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment