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…
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