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Report: BKD agrees to settlement with U of L Foundation

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Louisville Business First reports Springfield-based public accounting firm BKD agreed to pay a $350,000 settlement to the University of Louisville Foundation.

The publication obtained the settlement terms through the Kentucky Open Records Act.

The settlement stipulates BKD will refund the foundation $100,000 and make a charitable contribution to the foundation to the tune of $250,000.

Federal and county court records show no litigation was filed. The settlement came after "the university, the foundation had a dispute with BKD concerning [the] appropriateness of certain services and fees charged for audit work performed," according to the settlement agreement.

The firm reportedly served as the foundation's auditor 2008-17.

Read more from Louisville Business First.

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