Navigation Links
Staples 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/ -- Staples director Martin Trust should apply the same Sarbanes-Oxley standards used by Staples 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. Trust is the CEO of Samtex and a director of Massachusetts-based Virtusa Corporation as well as Staples.

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 nonprofit roles.

Sarbanes-Oxley does not apply directly to nonprofit organizations. However, under Massachusetts law, nonprofit directors must use their specialized knowledge and experience in their role as nonprofit fiduciaries (Mass. Gen. Laws ch. 180 section 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 nonprofit organizations, BIDMC's reporting would likely not meet the "real time" and "plain English" requirements of Sarbanes-Oxley (SOX section 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 Trust 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
'/>"/>

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

Page: 1 2

Related medicine news :

1. The Advisory Board Company to Present at Upcoming Conferences
2. Board Members of Five Massachusetts Companies Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
3. Philip Coelho Joins Mediware Board
4. Massbank Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
5. Genesee & Wyoming Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
6. Boston Properties Executive and Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
7. Brooks Automation Executive and Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
8. Charles River Laboratories International Board Member Should Use Sarbanes-Oxley Disclosure Rules in Non-Profit Role, Asserts 1199 SEIU
9. Otter Tail Corporation Reports Record Revenues and Net Income From Continuing Operations for 2007; Earnings Per Share of $1.78; Board Approves Dividend Increase
10. The Advisory Board Company Reports Fiscal Year 2008 Third Quarter Results
11. Nastech Appoints MDRNA, Inc. Directors Strategic Advisory Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/21/2014)... Orange County, CA (PRWEB) November 21, 2014 ... be featured in an upcoming episode of Innovations with ... 2015. Dates and show times TBA. , Big Bud ... with information for growing, harvesting, and utilization of medical ... look at Big Bud Farms’ wide variety of products ...
(Date:11/21/2014)... November 21, 2014 Launched today on ... is an all-in-one senior care coordination tool designed to ... ones simple and intuitive for family members and caregivers ... centers). Now, the family caregiver or home health aide ... activities, health data, medical records, goals, schedules, and even ...
(Date:11/21/2014)... November 21, 2014 TruDenta, the creator ... headaches and other jaw-related symptoms, has reported a ... from chronic head pain, neck pain, TMJ (temporomandibular joint) ... year we have seen a 52% increase in the ... of over 300 doctors and their teams in 47 ...
(Date:11/21/2014)... 2014 CDT PLUS! 2015 ... It includes everything needed to process dental insurance claims. ... CDT , CDT 2015 codes are mandatory for reporting ... - December 31, 2014. Dental professionals must use HIPAA ... dental claims. There are significant changes in the CDT ...
(Date:11/21/2014)... November 21, 2014 TopConsumerReviews.com recently ... an industry leader in the relief of ... significant feelings of sadness and depression each year ... pharmaceutical choices. Often, prescription drugs can produce worse ... drugs are expensive and require regular follow-up visits ...
Breaking Medicine News(10 mins):Health News:Big Bud Farms to be Featured in Upcoming Episode of Innovations with Ed Begley Jr. 2Health News:Comprehensive Senior Care Application Launched on Apple App Store 2Health News:National Rise In Patients Seeking Headache Relief 2Health News:PMIC Announces CDT PLUS! 2015, the Ultimate Coding Reference for Dentists and Oral Surgeons 2Health News:Depression Relief Product Receives Top 5-Star Rating from TopConsumerReviews.com 2
... New Delhi: The National AIDS Control Organization (NACO) has ... to provide free anti-retroviral treatment (ART). //The count of ... on the anvil. , ,These centers will support ... the services of exclusive doctors, counselors and laboratory technicians ...
... or get the consent of one or both parents before ... to a Florida State University law professor in Tallahassee, Fla. ... and Thomas Stratmann, professor of economics at George Mason University, ... of gonorrhea among teenage girls as a measure of risky ...
... reduce their risk of becoming obese children, even if ... a study led by a researcher at the University ... ,The findings contradict an earlier, smaller study that found ... diabetes had poor glucose tolerance, a precursor to diabetes, ...
... self-image as the “strong, silent type” and the stigma ... less likely than women to be referred to studies ... recognize and express symptoms of depression, according to clinicians ... UC Davis Department of Psychiatry and Behavioral Sciences. ...
... tennis elbow and a wait and watch approach may be ... Australian researchers tested this approach in one group of volunteers, ... ,A second group were given a local ... The final group received eight treatments of physiotherapy of 30 ...
... amphetamine abuse in the Asia-Pacific region has hit high levels ... problem threatening Asia that is this big is a problem ... Australia as is the security of Australia in terms of ... the United Nations Office of Drugs and Crime told AFP. ...
Cached Medicine News:Health News:Abortion Notification, Consent Laws Reduce Risky Teen Sex 2Health News:Breast-Feeding May Reduce Childhood Obesity 2Health News:Stereotypes Contribute to Older Men Seeking, Receiving Depression Care Less Frequently 2Health News:Stereotypes Contribute to Older Men Seeking, Receiving Depression Care Less Frequently 3Health News:Stereotypes Contribute to Older Men Seeking, Receiving Depression Care Less Frequently 4Health News:Steroids Ineffective In Tennis Elbow 2
(Date:11/21/2014)... SAN MARCOS, Texas , Nov. 21, 2014 /PRNewswire/ ... industrial hemp containing low THC, announces they are now ... is comparable to Charlotte,s Web type strains grown in ... symptoms from other neurological disorders, such as Parkinson,s, MS, ... waiting for US laws to pass, because imported CBD ...
(Date:11/21/2014)... , Nov. 21, 2014  Abaxis, Inc. (NasdaqGS: ... instruments and consumables for the medical, research, and veterinary ... veterinary and research markets in the United ... stock purchase agreement to acquire 100% of QCR & ... based distribution organization. The transaction closed on November ...
(Date:11/21/2014)... MONTREAL , 21. November 2014 ... hat heute bekannt gegeben, dass ... – EMA) die Kennzeichnung als Orphan-Medizinprodukt ... Produktkandidat des Unternehmens zur Behandlung von ... eine seltene, stark beeinträchtigende genetische Krankheit, ...
Breaking Medicine Technology:New CBD Oil From Industrial Hemp is Comparable to Charlotte's Web, Legal In All 50 States 2New CBD Oil From Industrial Hemp is Comparable to Charlotte's Web, Legal In All 50 States 3Abaxis Acquires UK-based Distribution Organization 2Abaxis Acquires UK-based Distribution Organization 3Abaxis Acquires UK-based Distribution Organization 4Clementia Pharmaceuticals erhält EMA-Kennzeichnung als Orphan-Medizin für Palovarotene zur Behandlung von Fibrodysplasia ossificans progressiva 2Clementia Pharmaceuticals erhält EMA-Kennzeichnung als Orphan-Medizin für Palovarotene zur Behandlung von Fibrodysplasia ossificans progressiva 3
... Inc. (NYSE: LDR) announced today that its Board of ... share for the second quarter of fiscal 2012. The dividend will ... on March 9, 2012. About Landauer ... services to determine occupational and environmental radiation exposure and is ...
... BRUSSELS, Feb. 28, 2012 Eli Lilly and Company (NYSE: ... global Innovation Starts Here initiative which supports Lilly,s commitment to ... the world. Two key components of this ... Innovation Fellowship Awards. Through both, Lilly scientists will collaborate with ...
Cached Medicine Technology:Lilly Introduces Global 'Innovation Starts Here' Initiative to Foster Innovation and Quality Science 2Lilly Introduces Global 'Innovation Starts Here' Initiative to Foster Innovation and Quality Science 3Lilly Introduces Global 'Innovation Starts Here' Initiative to Foster Innovation and Quality Science 4Lilly Introduces Global 'Innovation Starts Here' Initiative to Foster Innovation and Quality Science 5
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: