Corporate Compliance

Safeguarding of Assets

Healthcare Auditing Weekly, August 3, 2004

Understanding the controls necessary to safeguard assets can help auditors assess the risk of financial statements being materially misstated. For example, understanding your facility's controls for safeguarding assets can help you recognize  the following risk factors

  • Lack of control over activities

  • Lack of control over computerized information systems

  • Failure to develop or communicate adequate control activities for security of data or assets

  • Failure to investigate significant unreconciled differences between a control account and subsidiary records

    For more information on safeguarding assets, order the book "Guide to Compliance Auditing: Applying OIG Techniques and Tools," published by HCPro, Inc. This book provides compliance officers and internal auditors with the same principles and tried-and-true techniques that the OIG uses to conduct audits of the Medicare and Medicaid programs. Click here for more information or to order your copy today.

    • Strategies for Health Care Compliance
    • Strategies for Health Care Compliance

      News and real-life examples to increase the effectiveness of your compliance program. Strategies for Health Care Compliance...

    • Compliance Monitor

      This HTML e-mail newsletter delivers news on Medicare and Medicaid fraud and abuse, as well as recent documents and targets...

    • Medicare Weekly Update

      Each issue of Medicare Weekly Update includes the latest CMS proposed and final rules, CMS manual revisions, and...

    • Medicare Update for Physician Services

      Medicare Update for Physician Services is a free, monthly e-zine that delivers news and information to help physician...

    Most Popular

    Related Articles