Navigation Links
Massbank Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
Date:2/6/2008

Union asks board member to seek restatement of Beth Israel Deaconess Medical Center audit

BOSTON, Feb. 6 /PRNewswire-USNewswire/ -- Massbank director Allan Bufferd should apply the same Sarbanes-Oxley standards used by Massbank and other publicly traded companies to his role on the board of Beth Israel Deaconess Medical Center (BIDMC), according to labor group 1199 SEIU United Healthcare Workers East. Bufferd is also the retired treasurer of Massachusetts Institute of Technology (MIT).

1199 SEIU asserts that board members who serve on publicly traded companies covered by Sarbanes-Oxley should apply their knowledge of Sarbanes-Oxley disclosure standards in their non-profit roles.

Sarbanes-Oxley does not apply directly to non-profit organizations. However, under Massachusetts law, non-profit directors must use their specialized knowledge and experience in their role as nonprofit fiduciaries (Mass. Gen. Laws ch. 180 6C).

BIDMC's audit disclosures appear to commingle bad debt and charity care, a practice under scrutiny by the IRS and Congress. Charity care is a key metric for non-profits.

If Sarbanes-Oxley were applied to non-profit organizations, BIDMC's reporting would likely not meet the "real time" and "plain English" requirements of Sarbanes-Oxley (SOX 409) in disclosing charity care and bad debt. Inadequate charity care disclosure may endanger a hospital's state or local tax exemptions or expose the institution to other regulatory consequences.

A letter sent to Bufferd and other Sarbanes-Oxley affected members of the boards of BIDMC and its parent organization CareGroup reads, "Your breadth of experience in the private sector combined with your service on non-profit BIDMC's board of directors uniquely positions you to recognize the deficiencies in BIDMC's financial reporting." The letter asks that fiduciaries request the withdrawal and revision of BIDMC's 2005 and 2006 audits in order to meet the higher
'/>"/>

SOURCE 1199 SEIU United Healthcare Workers East
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related medicine news :

1. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
2. Richard Greco Joins Mediware Board
3. Arrow International Urges Shareholders To Vote for Approval of the $45.50 Teleflex Inc. Merger and for the Current Board of Directors
4. Award-winning QUITPLAN(R) Services Billboard Debuts in Rogers
5. Montana Health Care Leader Elected Board Chair of National Association
6. Genaera Announces Formation of Scientific Advisory Board for Obesity Drug Candidate Trodusquemine (MSI-1436)
7. China Holdings Appoints Ronald Shon Chairman of Advisory Board to Its Wholly-Owned Subsidiary China Power, Inc.
8. Glass Lewis Recommends Arrow Shareholders Vote on the White Proxy Card for Merger With Teleflex and for Current Board of Directors at Arrow Annual Meeting
9. STERIS Corporation Board of Directors Names Walter M. Rosebrough Jr. President and Chief Executive Officer
10. Patient Safety Authority Board of Directors Names Infection Advisory Panel
11. William Moore Appointed to IRIDEX Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/17/2014)... the very healthy. Astronauts are selected for their ... standards to prepare them for any unknown challenges. ... people can now fly for enjoyment. The aerospace ... what medical conditions or diseases should be considered ... medical conditions have never been studied for risk ...
(Date:9/17/2014)... who struggle to distinguish between a business strategy and business ... the answer by reading Per Wickstrom’s latest blog post. , ... plan and a business strategy are both strategic – and ... I view it is that a business plan is part ... , According to the blog post, a business plan ...
(Date:9/17/2014)... nanoparticles, gene manipulation these sound like the ... fact, they are components of an exciting new ... preclinical animal models of metastatic prostate cancer, scientists ... Institute of Molecular Medicine and Johns Hopkins Medical ... imaging approach that could revolutionize doctors, ability to ...
(Date:9/17/2014)... Somerset, N.J. (PRWEB) September 17, 2014 ... of advanced delivery technologies and development solutions for ... the launch of OptiPact™, an integrated service and ... roller compaction, and provided from the company’s 450,000 ... technology describes Catalent’s ability to integrate optimal formulation, ...
(Date:9/17/2014)... WEDNESDAY, Sept. 17, 2014 (HealthDay News) -- Positive messages ... some people kick the habit, a new study suggests. ... responded better to "loss-framed" messages about the harmful effects ... quit whenever they want benefit more from "gain-framed," or ... The researchers concluded that using a mix of ...
Breaking Medicine News(10 mins):Health News:Space: The final frontier… open to the public 2Health News:Per Wickstrom’s Latest Blog Explores the Difference Between a Business Plan and a Business Strategy 2Health News:New non-invasive technique could revolutionize the imaging of metastatic cancer 2Health News:New non-invasive technique could revolutionize the imaging of metastatic cancer 3Health News:New OptiPact™ Technology Introduced by Catalent 2Health News:More Than One Kind of Message May Convince Smokers to Quit, Study Says 2
... promise for human protection in future , , MONDAY, Jan. 28 (HealthDay ... one day ward off the flu. , Not only would the ... it also appears to be more effective than the flu shot ... the potential to be widely accepted by people who are afraid ...
... University researchers is the first to conduct a genome-wide ... contribute to DNA mutations, which are implicated in cancer ... professor of biology Kateryna Makova, the group investigated the ... increase the susceptibility to mutations of microsatellites -- variable-length ...
... ARLINGTON, Va., Jan. 28 Noting recent crises,involving the ... of a governmental blue ribbon panel, Jim Martin, president ... Drug Administration "itself a,threat to the health and safety ... holding hearings on the state of the,FDA on January ...
... Jan. 28 The American Academy of,Pediatrics (AAP) is ... for Thursday, January 31. As reported in The New ... court that a vaccine caused a,child,s autism. While the ... autism and vaccines, the episode,s conclusion delivers a,contrary impression; ...
... of the National Institute of Child Health and Human ... for Reproduction and Infertility Research at the University of ... at expanding the science underlying the success or failure ... reproductive health. , The NICHD supports a national ...
... cancer of the pancreas increase dramatically for patients whose tumors ... Saint Louis University and the M.D. Anderson Cancer Center in ... between tumor size and survival rates for one of the ... the current edition of Pancreas ( www.pancreasjournal.com ) vividly ...
Cached Medicine News:Health News:Drop of Flu Vaccine Under Tongue Bars Infection 2Health News:Scientists explore factors contributing to DNA mutations 2Health News:Scientists explore factors contributing to DNA mutations 3Health News:Scientists explore factors contributing to DNA mutations 4Health News:Don't Overburden FDA 2Health News:American Academy of Pediatrics Calls for Cancellation of ABC's 'Eli Stone' Premiere 2Health News:National Institutes of Health funds new center for reproduction and infertility research at Illinois 2Health News:Pancreatic cancer: The smaller the tumor, the better your chances, study shows 2Health News:Pancreatic cancer: The smaller the tumor, the better your chances, study shows 3
(Date:9/17/2014)...  Lightbeam Health Solutions announced today an agreement ... ACO) to deploy the Lightbeam population health platform ... while reducing costs. Photo - ... Care Organization is the ACO operating entity of ... is to be the premier integrated health care ...
(Date:9/17/2014)... 2014 According to a new ... Battery, Memory Device, Display, & Microprocessor/MCU), by Application (Imaging, ... by Geography - Global Forecast to 2020", published by ... expected to reach $56.50 Billion by 2020, growing at ... Browse 235 market data Tables and 71 Figures ...
(Date:9/17/2014)... , Sept. 17, 2014 Women everywhere ... infections are not only uncomfortable, they,re often also embarrassing ... plans. pH-D Feminine Health Support ( http://ph-defense.com ) is ... It is an all-natural, homeopathic product. ... common symptoms of vaginal infection. In many cases, the ...
Breaking Medicine Technology:Physician Direct Accountable Care Organization Selects Lightbeam Health to Enable Better Care at a Lower Cost 2Physician Direct Accountable Care Organization Selects Lightbeam Health to Enable Better Care at a Lower Cost 3Medical Electronics Market Worth $56.50 Billion by 2020 2Medical Electronics Market Worth $56.50 Billion by 2020 3Medical Electronics Market Worth $56.50 Billion by 2020 4New Product from Vireo Systems: pH-D Feminine Health Support 2
... MELBOURNE, Australia, September 12, 2011   ... Spinifex Pharmaceuticals, an Australian pain drug development company, today ... EMA401 in a model of diabetic neuropathy. EMA401 is an ... development for a number of neuropathic pain indications. ...
... WASHINGTON, Pa., Sept. 10, 2011 Core Essence Orthopaedics, ... tissue and skeletal repair of the extremities, has introduced ... the 66th Annual Meeting of the American Society for ... a pioneer of surgical innovation to the upper and ...
Cached Medicine Technology:New Data on EMA401 in Model of Diabetic Neuropathy Presented at 21st Annual NEURODIAB Meeting 2New Data on EMA401 in Model of Diabetic Neuropathy Presented at 21st Annual NEURODIAB Meeting 3Core Essence Orthopaedics Unveiled New Flexor Tendon Repair System at ASSH 2011 2
... Medical's line of Personal ... catheters you would choose ... product configurations - standard, ... hydro - are based ...
The latex-free, PVC-free Antibacterial Hydro Personal catheter combines two remarkable innovations into one exclusive catheter that delivers an antibacterial agent while providing the virtually frict...
The Antibacterial Personal Catheter® features a unique silicone composition that provides an antibacterial coated soft outer layer of silicone combined with a firm inner layer....
... Medical's line of Personal ... catheters you would choose ... product configurations - standard, ... hydro - are based ...
Medicine Products: