LOUISVILLE, Ky.—Alvarez & Marsal Disputes and Investigations LLC, a global professional services firm, has been tapped to conduct a forensic audit of the University of Louisville Foundation.
The selection was made by the Joint Audit Oversight Committee, a body formed in September that includes members of the University of LouisvilleBoard of Trustees and the UofL Foundation Board of Directors.
A&M was one of 10 firms that responded to a request for proposals issued by the committee this fall. The firm will review activities and accounts of the foundation, its subsidiaries and affiliates for the period between July 1, 2010, and June 30, 2016.
“Alvarez & Marsal is a firm with a worldwide reputation and tremendous track record,” said committee chairwoman Diane Medley. “We have every confidence that it is the right choice to lead this review.”
A&M’s contract runs through June 30, 2017.
“In order to restore the confidence of the entire UofL stakeholder community, we needed to hire the pre-eminent forensic investigation firm, and we got that with A&M,” said Larry Benz, chairman of the UofL Board of Trustees. “Our joint committee looks forward to working with them in this process.”
The selection of A&M is the latest step in the effort to renew faith in the foundation. It follows last month’s hiring of Keith Sherman as interim executive director.
“Today’s announcement is another university foundation promise kept and demonstrates our commitment to work with the university to provide stability and transparency to our organization,” said UofL Foundation Chairwoman Brucie Moore. “I wish to thank the Joint Audit Oversight Committee for its expeditious work. Let’s continue moving the UofL community forward.”
###