Does Sarbanes-Oxley Apply to Not-for-Profits?

A hospital union in Boston says it does.

The 1.9-million-member Service Employees International is arguing that Boston’s Beth Israel Deaconess Medical Center violated the SOX act by including losses from bad debts in its tally of the charity care it provides. The union wants the hospital’s financials restated.

The union has little in the way of legal or regulatory grounds for its argument. And it’s not an organizing tactic. But the union’s point has been made. And I think we can expect more controversies like it. More…

FIRMS TO WATCH: Clayton & McKervey Surges with “Razor-Sharp Focus”

The Southfield, Mich., accounting firm has grown revenue 40 percent in the last three years while adding 30 percent more staff.

Managing partner Don Clayton (pictured at desk) and shareholder Kevin McKervey are targeting growing, mid-sized companies with global ambitions.

They credit the firm’s growth to their focus on identifying and pursuing the one thing that they can be best at, what “Good to Great” author Jim Collins calls a company’s “hedgehog” concept. For C&M, that’s helping entrepreneurial companies from other nations expand into the U.S. and U.S. companies to go abroad. The firm counts new clients from China, Britain and Mexico.

“We’ve got a razor-sharp focus,” Clayton said. “That’s a competitive advantage.”

More here…