title: Financial reporting practices: a comprehensive evaluation.
abstract: A distinguishing characteristic of high performance organizations is a strong internal control structure-controls that ensure patient care, compliance with regulations, internal efficiencies, and financial reporting. It is controls on financial reporting that are receiving a great deal of attention under a new law, the Sarbanes-Oxley Act of 2002. Public companies are now required by law to document controls over financial reporting, in order to fully address exposures and the effectiveness of current controls. Though many healthcare organizations are not directly affected by the law, regulatory agencies could follow suit and require similar compliance. In fact, several states have introduced bills that require nonprofit organizations to adhere to portions of the act. This article provides a guide for organizations desiring to stay ahead of the curve.
authors.affiliation: School of Accountancy, Auburn University, USA. godwin@business.auburn.edu
authors.forename: Norman H
authors.initials: NH
authors.lastname: Godwin
authors.forename: Jennifer M
authors.initials: JM
authors.lastname: Mueller
mesh_terms: D000066:Accounting / Q000331:legislation & jurisprudence*; D014487:Centers for Medicare and Medicaid Services, U.S.; D005377:Financial Management, Hospital / Q000331:legislation & jurisprudence*; D005607:Fraud / Q000331:legislation & jurisprudence* / Q000517:prevention & control; D019983:Guideline Adherence / Q000331:legislation & jurisprudence*; D016134:Organizational Policy; D012941:Social Responsibility; D014481:United States