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Managing corporate governance risks in a nonprofit health care organization
Author(s) -
Troyer Glenn T.,
Brashear Andrea D.,
Green Kelly J.
Publication year - 2005
Publication title -
journal of healthcare risk management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.221
H-Index - 16
eISSN - 2040-0861
pISSN - 1074-4797
DOI - 10.1002/jhrm.5600250309
Subject(s) - business , scrutiny , corporate governance , public relations , internal revenue , legislation , health care , revenue , stakeholder , accounting , service (business) , finance , marketing , political science , law
Triggered by corporate scandals, there is increased oversight by governmental bodies and in part by the Sarbanes‐Oxley Act of 2002. Corporations are developing corporate governance compliance initiatives to respond to the scrutiny of regulators, legislators, the general public and constituency groups such as investors. Due to state attorney general initiatives, new legislation and heightened oversight from the Internal Revenue Service, nonprofit entities are starting to share the media spotlight with their for‐profit counterparts. These developments are changing nonprofit health care organizations as well as the traditional role of the risk manager. No longer is the risk manager focused solely on patients' welfare and safe passage through a complex delivery system. The risk manager must be aware of corporate practices within the organization that could allow the personal objectives of a few individuals to override the greater good of the community in which the nonprofit organization serves.