Essay on Role of Governance

993 Words Oct 5th, 2013 4 Pages
Running Head: ROLE OF GOVERNANCE

Role of Governance in Health Care Organizations
Jovonia Bellamy
Grand Canyon University (Online)
HCA 545 Organizational Structure, Dynamics, and Effectiveness
September 3, 2013

There are many concerns when developing a team, no matter what the team is especially in health care organizations, the team that should be in place is a team of members qualified to make an impact. Running a health care organization is one that is complex and requires a team. It is important that everyone that is a part of that team knows their role in the governance and effective their roles are. There are many elements/positions to the governance structure, the role
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The Sarbanes-Oxley legislation is being implemented by during phases at a time. The Sarbanes-Oxley act has been named one of the most significant reforms of legislation since the Depression. The executive management of the firms has already been impacted by Section 302 of the Sarbanes-Oxley Act. Many of the different audit firms today have established ways to run their organization around Sarbanes-Oxley Act compliance and they are ensuring they take the steps to work with their customers on how to comply to the act as well with the next phase of the legislation. The impacts of those who are not in compliance can experience many extremes some as small as fines to pay, while others could mean time in jail. Although these terms may sound harsh the reality is that any person that fails to comply to the terms can be punished and it can embarrassed the organizations image. The new law can be a maximum sentence for security fraud of 20 to 25 years in prison. Congress is now forming ways to ensure that these guidelines are in stone with special emphasis on officers and directors in senior management positions. The actual penalties of the Sarbanes-Oxley will really be determined by the government’s rate of success when it comes to prosecuting individuals that commits the fraudulent activities.
Personally I believe that the act had to come into play to do something about all of the account fraud especially during the down

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