The bottom line: Corporate scandals led to a new financial reporting act that now benefits companies AND investors

The bottom line: Corporate scandals led to a new financial reporting act that now benefits companies AND investors

In 2002, you may remember hearing of the major corporate scandals involving companies like Enron and WorldCom, among others. Revelations that corporate executives filed misleading financial statements, and other discoveries involving inappropriate relationships between accounting firms and the companies they audited were a common feature in these scandals, and investors lost billions of dollars. Following […]

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The Bottom Line: The HITECH Act provides security through digital personal health information

The Bottom Line: The HITECH Act provides security through digital personal health information

In 2009, President Obama signed The Health Information Technology for Economic and Clinical Health (HITECH) Act. The HITECH Act promotes the adoption and meaningful use of health information technology. So what does this mean for you as a patient and/or a healthcare provider? The HITECH Act incentivizes healthcare providers to move their patient records from […]

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The Bottom Line: HIPAA Compliance is a top priority for Healthcare providers

The Bottom Line: HIPAA Compliance is a top priority for Healthcare providers

“The Health Insurance Portability and Accountability Act of 1996 (HIPAA) requires the Secretary of the U.S. Department of Health and Human Services to develop regulations protecting the privacy and security of certain health information.”  But what does this really mean? This means that most medical information recorded and stored by healthcare providers has to be […]

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The bottom line: What ensures that your information as a consumer is kept secure? FACTA

The primary purpose of FACTA (the Fair and Accurate Credit Transactions Act) is to reduce the risk of identity theft by regulating how consumer account information (such as Social Security numbers) is handled. FACTA is enforced by multiple agencies and government administrations, as well as the FTC. Some FACTA requirements: Red Flag Rules: Under the […]

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THE BOTTOM LINE: Tax time for businesses – what to keep, and for how long.

Tax time can be dreadful for businesses and individuals when digging through old paperwork and files for the necessary documents to complete your business’ tax returns. Many times, people don’t know the retention rules for these documents, so extra documents are kept for years and years, but this only complicates things when searching for the […]

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United States Postal Service Data Breach

No company is safe. Information is being compromised at an alarming rate and companies are trying to keep it under wraps. According to ABC News, it took nearly a month for victims to be notified by the US postal service about their data breach. Not to mention, about 100 servers and their workstations were compromised […]

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