Home -> Law Blog Directory -> Corporate & Securities Law Blogs -> inside Sarbanes Oxley

Corporate & Securities Law

: inside Sarbanes Oxley

Hospital?s Accounting Is Under Fire by a Union

By Toby Lucich

A union is trying to force nonprofit groups like hospitals to comply with standards of governing similar to those that federal law requires of private companies.

In particular, the union, the 1.9-million-member Service Employees International, argues that a Boston hospital, Beth Israel Deaconess Medical Center, violated those standards by including its losses from bad debts in its tally of the charity care it provides.

In a letter to Beth Israel Deaconess directors who also sit on the boards of for-profit companies, the union contends that the standards they apply to governing those companies require them to make the hospital restate the value it placed on the charitable care it provided in 2005 and 2006.

Hospital?s Accounting Is Under Fire by a Union

Full post as published by inside Sarbanes Oxley on February 23, 2008 (boomark / email).