I will discuss what Medicare Fraud is, some cases of Medicare fraud, the consequences of committing Medicare fraud, and the ways to prevent and report it. Issue: Doctors are usually thought of as having a higher set of ethics in the business world. When a doctor swears to the Hippocratic Oath of “Strive to help, but above all, do no harm,” most people think about the treatment of patients. However, this can also be stretched to anything relating to the care of a patient, including how insurance claims are handled. There is a certain expectation that a doctor is an ethical individual that will always do the right thing and take proper care his patients.
AICPA Code of Professional Conduct Trudy Linden-Craft ETH376 June 25, 2012 Juan C. Vargas AICPA Code of Professional Conduct In business, companies adopt moral values that work to guide ethical decisions to gain trust from and build integrity with its consumers. Accounting practices are an important part of a companies’ success and can lead to civil and criminal problems if a company fails to report accurate information on its financial statements. The various developments of codes of conduct over the years in the accounting profession have assisted companies’ with making ethical judgments in terms of its finances. Without the enforcement of the codes of conduct, many companies could intentionally record journal entries. Hiring CPAs allows companies to report the most accurate information to the public, board members, and potential investors.
3. According to Carmichael, why is it so important that the public have confidence in the independent auditors of public companies? With the horrific scandals of Enron and Worldcom it is important to rebuild the public’s trust in private auditors and that the findings of the auditors prove to be correct beyond a shadow of a doubt. With confidence in independent auditors of public companies, usefulness of the audit will be intact. Auditing methods change and improve when there is a need to restore this confidence.
("AICPA'S Code of Professional Conduct ", 2006-2014). The AICPA views that accountants should always exercise sound moral judgment in all accounting activities. Accountants have the responsibility of providing clients with professional services while presenting a truthful and accurate assessment of the information. Ethics in accounting are concerned with how to make good and moral choices in regard to the preparation, presentation and disclosure of financial information. Accountants have ethical responsibilities to many different parties, both internal and external to the company.
Tad Smith, Chairman of the Board and CEO of CareNetWest, finds he may have overlooked paying attention to important governance, reporting, and regulatory compliance issues (University of Phoenix, 2007). His Chief Risk Officer has just resigned, citing insufficient expertise and infrastructure to manage non-financial, financial regulatory and corporate governance issues. After talking to his CFO who is more of an investment banker than financial controller, his General Counsel, and outside accounting firm, Tad realizes that CareNetWest falls short of meeting the regulatory reporting requirements. Two very important compliance issues are on the near horizon and CareNetWest must pass the Joint Commission on Accreditation of Healthcare Organizations (JCAHO) review, and SOX section 404 compliance. “Section 404 creates an ongoing requirement for management and, over time, should cause companies to continue to monitor and strengthen their internal control over financial reporting” (Deloitte 2004).
An organization that provides a financial statement to the public, investors or government funding entities must follow the set standards developed by Financial Accounting standards Board (FASB). Information documented within a report must be reliable, consistence, and have comparability outcomes and measurements delivery objectives. An
Wal-Mart has found that once formed, changing negative perceptions is often difficult and the effort involves considerable amount of resources with questionable outcomes. It will show that being a good 'Corporate Citizen' and creating positive stakeholder perception is a better strategic approach for Wal-Mart’s continuing success and help them to keep their core customer base: low income households. The main intent of this paper is to answer questions based on the following document; Maich, S. (2004). Wal-Mart's Mid-Life Crisis. Maclean's, 117(34), 45.
Shaquila Turner Reporting Practices and Ethics Paper March 28, 2011 HCS/405 David Catoe Reporting Practices and Ethics Paper Financial management of health care organizations is faces with many ethical standards and reporting practices. Organizations must report all financial data the proper way to ensure that it is true and factually. Handling the financial side poorly will and can show a different side of the organization. The organization can lose money which will affect many people that is working with the company or working for the company. The person that is has an effect on will be the employees, customers,
Justice also supports measures that can assist in alleviating any financial burden or provide resources for additional assistance to help with the cost of healthcare (Rich & Butts, 2014). Heart failure can cause a financial burden, which can create fear in seeking further treatment (Chen-Scarabelli et al., 2015). If additional treatment is essential to maintain the quality of life, justice can be served by utilizing available resources to aid in financial assistance, such public health (Chen-Scarbelli et al., 2015). From 2005-2009, there was an increase in the implantation of left ventricular assist devices with the support of Medicare and Medicaid primarily paying (Chen-Scarabelli et al.,
The present deregulated health care provision system is detrimental to business as owners of companies with big workforces are forced to spend a fortune in securing their employee’s health care bearing in mind the hefty premiums charged and the requirements for a minimum life time payments that are payable by clients. A regulated health care system would thus be conducive to businesses as they would make savings on employee health benefit plans (Sultz & Young,