First, the Accuhealth’s executives clearly departed from a sound operating philosophy of ensuring appropriate accounting reports and protection from fraud loss as well as meeting external shareholders’ expectations. By embezzling cash and overstating inventory, they failed to set an ethical tone at the top for their employees and were sending a clear message to their employees that committing fraud was acceptable and needed not to be taken seriously, therefore creating an entire culture of workplace frauds. Moreover, the company’s control environment was deeply undermined by the employment of several immediate relatives and family members as the company’s top management and board of directors. The close relationships among top executives greatly diminished the independence of the board of directors from management and their abilities to exercise oversight of the development and performance of internal control, which caused ineffective monitoring of internal controls and fostered collision among officers and employees to commit…
The way W. R. Grace justified this was they decided it was immaterial and it would not influence the investor’s decisions. PwC, an external public auditing firm came into W. R. Grace to do their annual report, while going over the numbers they discovered the hidden profit. PwC repeatedly told W. R. Grace that it was wrong, and mentioned it in their memos, but ultimately gave W. R. Grace a clean report, and signed it. Mr. Eatough the company 's, internal audit chief…
Furthermore, her actions paint a dishonest picture of the financial health of Martin Company. The financial statements of Martin Company should accurately reflect the company’s financial state. Accurate financial statements allow investors, creditors, and other users. the ability to fully understand the financial strengths and weaknesses of this company.…
Why Review your own Health Plan's Explanation connected with Benefits Have people ever been surprised that you owe with regard to the medical procedure considering that the probably you thought the insurance paid your own whole amount? in fact, and so surprised so that you can handle The item coming from ignoring your own multiple statements, phone calls and the explanation of benefit statement from the health plan (which is usually through which It many begins)? What's on the EOB?…
7) The auditing procedures or approaches that could have been used for your case. In particular, strive to answer the following questions: a) How what could what auditors normally do be tweaked (e.g. nature, timing or extent) to catch management off guard? The auditors should assess the company’s environment and market in order to determine whether there is a possibility of the management fraud.…
Not Just Pills Policy statement Incorporate non-pharmacological complementary and alternative treatments with conventional medicine to treat complex chronic pain conditions as a collaborative and integral part of the health care system. Supporting background research Chronic pain is a serious problem with more than 40 million adults suffering from severe pain as reported by the National Institute for Health (NIH) (2010). According to the NIH (2010), chronic pain sufferers use more health care, have worse overall health, and have more disability. The NIH estimates the economic cost of chronic pain at $635 billion annually within the United States from both healthcare costs and lost worker productivity (NIH, 2010).…
The company I picked from the missionstatements website is the Interim Healthcare Inc. According to the company's website, http://www.missionstatements.com. it was founded in 1966 and it's the nation's oldest health care franchise company, is headquartered in Florida. The company mission statement stated as follows: our primary mission is "to improve people's lives" and that is what we do everyday. I shoose this company because I'm in the health care field and also how short and specific is thier mission statement.…
Heathcare.gov was implemented by the US Federal Government under the Patient Protection and Affordable Care Act. This is also known by the public as Obamacare. The initial implementation of the website was a disaster. In October 2013, the website was released as expected, even though the issues going on congress with the government shutdown. “However, the launch was marred by serious technological problems, making it difficult for the public to sign up for health insurance” (Obama, 2013).…
The Wellness Fair: Reading Response I have decided to write about the wellness fair held on September 28 as opposed to the chapters of Just How Stupid Are We that are being forced upon us. Why did I formulate this decision, you ask? That happens to be simple.…
Early on in my life, I became interested in healthcare due to my father being a September 11 first responder. The health effects my father endured after 9/11 not only affected him but our family as well. Thus, instilling in me a curiosity of healthcare, its complexity and importance to society. Being a double major in History and Political Science during my undergraduate career, I learned about the plethora of challenges facing healthcare in the United States, especially the effects of the Patient Protection and Affordable Care Act. One of the complex issues that derived from the Affordable Care Act is the employer mandate, which forces employers to cover over all employees who put in at least 30 hours a week.…
Almost everyone is responsible for every aspect of their own health, however it seems that daily there is new evidence, or a new campaign that shows how bad or good certain health behaviours are, this is often conflicting. It is human nature to believe the consequences certain behaviours such as smoking or un-protected promiscuity will not happen to them. The health service within the UK is at the point that it may not be able to continue as it was intended as resources and budgets are stretched to the limit (Fund, 2016). Health promotion is essential in providing the public with information, enabling them to take control of their own health. In 1984 the World Health Organisation (WHO) helped define health promotion stating that it should…
The auditors had much blame and liability for the incident, since they accepted some “drinks” and other sorts of bribes by Minkow to not proceed when the “weird” financial information was analyzed by the auditors. The auditor’s main responsibilities were too keep any unethical behavior done by the company away from being speculated. The issues would have been taken cared off before growing into a huge dilemma, but the auditors decided to remain quiet and not analyze the concerns of the financial information that was being falsified by ZZZZ Best. Throughout this case, In the company ZZZZ Best, there were a couple of red flags that existed as a result from the fraud committed and the falsifications by the company. To begin with, the company ZZZZ Best didn’t have the best internal control.…
However, the corporation was caught by selling 75 million dollars in shares a day before the company experienced a huge loss, catching the attention of U.S. Securities and Exchange Commission (SEC) . A company which was known for its ambulatory surgery and rehabilitative health care services throughout the United States fabrics one of the most inconspicuous false impressions known to the corporate world. Carefully using deceptions of the Generally Accepted Accounting Principles (GAAP) such as materiality, conservatism, and reliability, verifiability, and objectivity as well as ethics, the company was able to improve their initial appearance. HealthSouth failing to meet the materiality, conservatism, and reliability, verifiability, and objectivity accounting principles as well as ethic standards meets its fall when the company is caught with conspiracy, security fraud, and money laundering carefully scattered along their financial statements and kept hidden by their dedicated employees. Corrupted management, originated financial statements, and falsified numbers all contributed to the history of HealthSouth’s…
Because of this, he would reassure potential prospects, but was obscurely ridding his share from the company. He was guilty of using internal information not available to the general public for his personal gain. He also falsified reports that were made public to mislead stakeholders about the poor condition of Enron. Andy Fastow: Fastow was the CFO of Enron.…
Government functions to promote the well-being of its citizens; this includes promoting health care in a manner that will best promote the welfare of its citizens. Since health care is very regulated, it does not follow the laws that model a free-market economy. For this reason, instituting a health care system in a capitalist society causes unintended consequences that lead to injustice. Injustices stem from a commercial incentive for research and drug development, a vast consumer surplus, and limited access to care. The government is a reflection of the citizens they serve.…