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Accounting and Audit Enforcement Paper

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Accounting and Audit Enforcement
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Introduction
Healthcare fraud is growing to become a significant challenge not only for the healthcare
industry but also for federal and state governments. The healthcare fraud schemes attempt to
defraud both private and government healthcare programs that are usually meant for people.
Various constitutional provisions are meant to fight fraudulent activities in the healthcare
industry and enhance accountably in the healthcare industry. Many federal healthcare programs
are under attack by scullions people aiming for self-benefit. Publicly traded organizations are the
most affected by these acts. McKesson Org. is among the biggest companies in America that are
publicly traded. In 1999 the company was the center of one of the biggest healthcare scandals
accused of inflating revenue during the companies' merger with HBO & Co, making the
company investors lose over $9billion (Freudenheim, 2005). As fraud cases continue to dominate
the healthcare sector, it is essential to find recommendations for reducing fraud in the healthcare
system based on the Sarbanes Oxley Act.
Evaluate the level of SOX regulations that applies to for profit and not for profit health
care organizations, indicating whether mandating SOX requirements for nonprofits might
reduce fraud and increase corporate governance. Provide support for the rationale.
The Sarbanes Oxley Act was passed in 2002 and aimed to integrate the utmost level of
corporate integrity and oversight in healthcare organizations' governance. Even though nonprofit
organizations are not primarily covered by provisions of this act like the profit organizations, the
law affects corporate governance for both profit and nonprofit organizations. Sarbanes Oxley
acknowledges corporate governance's responsibility in protecting the interest of different
stakeholders (Bhabra et al., 2017). Therefore, healthcare organizations have the responsibility of
representing the public's interests in ensuring safe and quality healthcare. Therefore to ensure

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1 Accounting and Audit Enforcement Name Course Professor Date 2 Introduction Healthcare fraud is growing to become a significant challenge not only for the healthcare industry but also for federal and state governments. The healthcare fraud schemes attempt to defraud both private and government healthcare programs that are usually meant for people. Various constitutional provisions are meant to fight fraudulent activities in the healthcare industry and enhance accountably in the healthcare industry. Many federal healthcare programs are under attack by scullions people aiming for self-benefit. Publicly traded organizations are the most affected by these acts. McKesson Org. is among the biggest companies in America that are publicly traded. In 1999 the company was the center of one of the biggest healthcare scandals accused of inflating revenue during the companies' merger with HBO & Co, making the company investors lose over $9billion (Freudenheim, 2005). As fraud cases continue to dominate the healthcare sector, it is essential to find recommendations for reducing fraud in the healthcare system based on the Sarbanes Oxley Act. Evaluate the level of SOX regulations that applies to for profit and not for profit health care organizations, indicating whether mandating SOX requirements for nonprofits might reduce fraud and increase corporate governance. Provide support for the rationale. The Sarbanes Oxley Act was passed in 2002 and aimed to integrate the utmost level of corpo ...
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