Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
State Incorporation Law and Sarbanes Oxley Law
The actions of Dollar Docs violate the State Incorporation Law and Sarbanes Oxley Law. The Dollar Docs owns five of the nearby home health agencies, violating the State Incorporation Law, as the number one rule is that they are only able to own a share or stock of the corporation, but not the entire corporation (Davidson, 2011). Violation of the State Incorporation Law gives shareholders the ability to bring civil action in court and are held liable for business debts, also called “piercing the corporate veil” (Masters, n.d.).
The Dollar Docs also violates the Sarbanes Oxley Law, where proper auditing and public disclosure was not met, as the Dollar Docs have been inflating numbers to show more profit than they actually earned (GovInfo, 2020). Violating SOL comes with proper sentencing set forth in section 3553 (a)(2) of title 18, United States Code (GovInfo, 2020). Altering documentation can also impose penalties of up to 20 years in prison, and an accountant or audit who knowingly or willfully violates the requirements to maintain records could face up to 10 years in prison (SOX Law, 2021).
An action plan to correct the problem would include internal audits, checklists, and HHS OIG Compliance Protocol. Internal audits are similar to mock surveys, allowing audits to occur before submitting to an accountant for audit. Internal audits would help to minimize risk by identifying issues and finding solutions to prevent them from occurring. Different key solutions and a checklist used to document actual earnings could also help prevent fraud or mistakes in inputting numbers. Utilizing HHS OIG Compliance Protocol could help by using the hospital and home health agency protocol as guidelines when preparing a SEC report each year.
References:
Basic Guidelines for Contracts and Contract Risk Management. (2022). Harvard University. https://rmas.fad.harvard.edu/basic-guidelines-cont…
Davison, D. (2011). A Legal Guide to Maryland Corporations & LLCs. Diane Leigh Davison, Esquire. http://www.lawgal.com/topics/CorpFlyer.pdf
Masters, T. (n.d.). The Consequences of Violating Corporate Bylaws. CHRON. https://smallbusiness.chron.com/consequences-viola…
Perry, F. (2020). The Tracks We Leave: Ethics and Management Dilemmas in Healthcare, Third Edition: Vol. Third edition. ACHE Management Series.
Section 802: Criminal Penalties for Altering Documents
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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State Incorporation Law and Sarbanes Oxley Law |
State Incorporation Law and Sarbanes Oxley Law