...Regulatory Agencies HCS437 June 2, 2014 Regulatory Agencies Several regulatory agencies are responsible for licensing long-term care facilities to ensure compliance of laws and regulations. Regulatory agencies also receive and investigate complaints that are related to the facility and the services in which the facility provides (Walsh, 2014). All long-term care facilities are expected to abide by these regulations in an effort to ensure long-term care patients proper care, ethical treatment, safe living environments, and health care reimbursement. These agencies expect long-term care facilities to maintain an environment that will emphasize the importance of one’s quality of life and quality of care (Walsh, 2014). This paper will discuss three regulatory agencies including the Centers for Medicare and Medicaid Services, the Department of Licensing and Regulatory Affairs, and the Administration on Aging/Long-Term Care Ombudsmen Program, which have made huge impacts on the way long-term care is delivered in the United States. Centers for Medicare and Medicaid Services The Centers for Medicare and Medicaid Services (CMS) has become a staple among regulating long-term care facility practices. The CMS produces and maintains federal regulations for long-term care facilities that choose to accept residents that rely on Medicare and Medicaid benefits as a form of payment (Long-Term Care Facilities, 1989). Local licensing agencies are responsible for surveying, licensing...
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...Project: Compliance Auditing | Final DraftAdvanced Auditing | | | | | OUTLINE I. Compliance Audits a. Objective, Scope, and Methodology b. Regulations II. Features & Benefits a. Assessment of overall security b. Exposures that create the greatest risk c. Internal Controls III. The Compliance Audit Process d. Interviews and Reviews e. Preparation f. Procedural Component IV. Conclusion Compliance Auditing Compliance auditing determines whether a process or transaction has or has not followed applicable rules. If rules are violated, the auditor determines the cause and recommends ways to prevent future deviations. The rules being tested can be those created by the organization for itself through corporate by-laws, policies, plans, and procedures; can be those imposed on the organization through external laws and regulations; or can be those external standards that the organization has chosen to follow. In addition Compliance auditors gather evidence regarding fraudulent or abusive activity affecting governmental entities. Their audits are designed to detect and deter the misappropriation of public assets and to reduce future fraud risks. (Associates, 2003) Compliance auditors must have the skills to research issues effectively using authoritative materials, understand how to apply the knowledge gained to the circumstances being tested, and be able to explain to the organization...
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...to be. 1. Organization – When Scott Deeter succeeds Hagie as CEO he took the company down a different path as part of his reorganization to help the company be successful he narrowed the company’s projects down the a few that had the greatest chance at being successful (Lawrence & Weber, 2011). 2. The rice that was produces from their research had side-effects. Couple this with the regulation that California places on genetically engineered rice farms and it becomes an uphill battle to get their research successfully completed. Federal and state regulations aside, it was also difficult to complete research due to the regulation of the rice industry itself (Lawrence & Weber, 2011). 3. For their part government regulatory agencies made progress a very hard achievement. The FDA has the responsibility for the safety and effectiveness of food and medicine. They considered fields containing pharmaceutical...
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...most of the laws are very old, there are overlaps and inconsistencies, and there is lack of clarity in terms of regulations due to the presence of a number of regulators. It is also argued that the laws in India are traditionally evolved on a problem by problem basis. With the advent of the New Economic Policy in 1991, substantial economic liberalisation took place in India. Between 1991 and 2002, progress was made in four areas. Firstly, capital controls were substantially reduced to give Indian Firms access to foreign market. Also, a new pension system was evolved and the monopolies of the public sector in the insurance field were broken up. This led to the formation of the new Insurance regulator, Insurance regulator and Development Agency. Additionally, significant increase in the equity market as a mechanism to raise finance by firms led to the formation of the financial market regulator SEBI. Also infrastructure institutions, National stock exchange and National Security Depository were also set up. Although, these moves were taken up in the right direction but they were considered to be inadequate because of the diverse nature of the Indian households and firms. There is a constant need of innovation in its product and processes in the financial sector in order to have a wider outreach. But these forces of innovation and competition are hampered by the present policy framework because of lack of clarity and inconsistencies on a number of issues. In order to address these...
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...individuals with a need to know; 2) Information released only as appropriate; 3) Federally required tests and testing has priority and is separate from non-DOT testing; 4) Records are maintained for the proper length of time. Does the employer maintain records of its anti-drug and alcohol misuse program in a secure location with controlled access? Does the employer only release drug and alcohol testing information related to covered employees as permitted by law or in accordance with the circumstances described in Section 655.73? Are DOT tests completely separate from non-DOT tests in all respects, and do DOT tests take priority (i. e. DOT tests conducted and completed before a non-DOT test is begun, urine collected in a DOT test not used for a non-DOT test)? REGULATORY CITATION Section 655.71(a) states: “An employer shall maintain records of its anti-drug and alcohol misuse program as provided in this section. The records shall be maintained in a secure location with controlled access.” Section 655.73(a) states: “Except as required by law, or expressly authorized or required in this section, no employer may release information pertaining to a covered employee that is contained in records required to be maintained by Section 655.71 of this subpart.” 3. 4. Section 40.13(a) states: “DOT tests must be completely separate from non-DOT tests in all respects.” Section 40.13(b) states: “DOT tests must take priority and must be conducted...
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...chaired by B. N. Srikrishna, former judge of the Supreme Court and the other board members consisted of virtuoso of various fields like Finance, Economics, Laws and Public Administration. The Commission took up a intense two year process starting from April, 2011 and submitted its “text of the findings and recommendations” in March,2013. For better and effective functionality in finance sector and avoid conflicts of interest among different regulatory, the Financial Sector Legislative Reforms Commission (FSLRC) recommended to have well structured Government agencies. The Commission has pitched for specialized and consolidated set of provisions on regulatory governance by bringing a bill, called Indian Financial Code Bill. Government agencies are required to perform complicated functions in eight major areas of finance sector: consumer protection, micro-prudential regulation, resolution of failing financial firms, capital controls, systemic risk, development, monetary policy and debt management. And if we have quick review of India’s regulatory, we find that it mainly follows product-specific regulator system. We have: Reserve Bank of India (RBI) that regulates...
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...Care Law and Regulations One of the areas that are currently affecting the Health Care industry is Regulatory agencies. There is much dissatisfaction over the current state of healthcare in the U.S. Within all of our organizations, regulatory agency surveys are conducted to better the organizations as well as its employees. The purpose of the regulatory surveys is to focus on the areas that need improvement as well as promoting better health care access to the people in the community. Regulatory agencies serve as authority as well as enforcement to regulate laws from the government. Some examples of regulatory agencies are Food and Drug Administration (FDA), Agency for Healthcare Research and Quality (AHRQ), and Occupational Safety Health Administration (OSHA). There are many examples of laws and regulations that are currently being faced in health care. Analysis of health care laws and regulations help one understand their influences on the provider. There are many ways that laws and regulations affect our lives and community. The FDA is responsible for the oversight of drugs, medical devices, vaccines, blood products and biologics, establishing rules for testing, clinical trials and approval of new products. The AHRQ is a federal agency under Health & Human Services working to improve the quality, effectiveness and safety of health care. While the agency OSHA establishes and monitors safety regulations regarding all workers including health care workers. OSHA...
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...operates within a democratic framework, under the constitutional check-and-balance powers of the three branches of government: Legislative, judiciary and executive. While the courts are not directly involved in setting procurement policies and rules, they try all legal cases that involve the federal government, including contract disputes, and their decisions become a source of federal procurement regulations. The Congress primarily influences the federal procurement system through laws, budget appropriations and its oversight powers. In addition, the Congress oversees federal procurements through its various standing committees, and the U.S. General Accounting Office. It also authorizes GAO to recommend decisions to agency heads on contract award and non-award protests. These decisions also become a major source of federal regulations. In principle, the president is responsible for implementing procurement statutes and procurement authorization and appropriations. He establishes government-wide procurement policies and procedures through executive orders, makes political and...
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...Regulatory Agency Regulatory agencies ensure health care practitioners and facilities promote safety, legal compliance, and quality patient services. If health care were not regulated of if accreditation were not required patients would not have a sense of comfort and safety. The regulatory agency the Joint Commission on the Accreditation of Healthcare Organizations commonly known as JCAHO, which “conducts periodic on-site surveys to verify that an accredited organization substantially complies with Joint Commission standards and continuously makes efforts to improve the care and services it provides” (The Joint Commission, 2010, p. 3). The JCAHO ensures that health care providers and facilities are maintaining the required standards of care in place by the regulatory agency. JCAHO is constantly improving the quality and safety of care provided in any health care facility. History of the Joint Commission of Health Care Organizations In 1910, Ernest A. Codman, M.D., found that many health care practitioners were practicing medicine that was outside their scope of training. It was then that he “proposed the end result system of hospital standardization. Codman thought that if hospitals were to track every patient and the patient were treated long enough it could be determined whether the treatment was effective and use the results to improve care” (2010, A Circular Century, p. 26). In 1913, the American College of Surgeons (ACS) was established and by 1917, the...
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...There are many different regulatory bodies that have several different purposes and functions the ones I have listed are not in any particular order. For example the Internal Revenue Service also known as IRS is the federal agency which is responsible for enforcing and administering the United States Department of Treasury revenue laws through the collection and assessment of taxes, determination of pension plan qualifications and even related activities (www.irs.gov). Another is the Securities and Exchange Commission known as the SEC; this is an independent federal agency which is responsible for regulating securities markets where stocks and bonds of major companies are traded. There is also the Financial Accounting Standards Board the FASB that is the largest independent US body that is responsible for establishing and interpreting the accounting standards and practices that are known as the Generally Accepted Accounting Principles (GAAP). The American Institute of Certified Public Accountants (AICPA) is a regulatory body that develops standards for auditing and other services performed by certified public accountants. The Governmental Accounting Standards Board (GASB) is the entity which is responsible for setting the generally acceptable accounting principles used by state and local governments and just like the aforementioned Securities and Exchange Commission; the GASB is a non-governmental, private organization. One regulatory body has a name that is sometimes jokingly...
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...are also available with the law. The law removes insurance company barriers to emergency services, allows patients to choose their health care provider, and covers preventative care without an out-of-pocket cost to the patient. Throughout this paper, there will be discussion on several different topics regarding the impact of the Affordable Care Act on health care organizational policies and the general impact of laws and policies on health care. One topic that will be discussed is the relationship between law and policy in health care. Also, a comparison of legislative and institutional policies will be presented. The influence of politics on health care regulations, laws, and policies will also be analyzed. Also, the impact of regulatory agencies on healthcare will be...
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...Better Regulation for Growth Regulatory Quality and Competition Policy Investment Climate Advisory Services of the World Bank Group With funding from FIAS, the multi-donor investment climate advisory service in partnership with BETTER REGULATION FOR GROWTH GOVERNANCE FRAMEWORKS AND TOOLS FOR EFFECTIVE REGULATORY REFORM REGULATORY QUALITY AND COMPETITION POLICY INVESTMENT CLIMATE ADVISORY SERVICES WORLD BANK GROUP ©2010 The World Bank Group 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2422; e-mail: pubrights@worldbank.org. About the Investment Climate Advisory Services of the World Bank Group The Investment Climate...
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...1. Introduction 1.1 Overview of Environmental Legislative and Regulatory Policy for England and Wales The Environmental Protection Act 1990 provisions was adopted in England and Wales to react the pollution control act of 1974, the aim of this legislation is for an improved integrated approach to pollution control which include authorizations, enforcement, publicity, and provisions of offences. Part I covers the integrated pollution control and air pollution by local authorizes; part II covers waste on land, harmful depositing, treatment, disposal, duty of care, waste management plans, special waste hazardous and non control waste; Part IIA covers contaminated lands; part III covers statutory nuisance and clean air; Part IV covers litter; part V covers the amendment of the radioactive substance act of 1960; part VI covers genetically modified organisms and part VII covers the nature conservation(Paul,2008a). Pollution Prevention and Control Act 1999 provisions was adopted in England and Wales this legislation is aim to implement the council directive 96/61/EC on integrated pollution prevention and control (IPPC) requiring EU member states to introduce regime for prevention, reduction and control of emissions and other activities that are capable of causing any environmental pollution in the region. Under the PPC regulations there are three distinct regimes which include part A(1) covers installations for sites regarded as potentially more polluting and emission to air...
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...India(SEBI) * Insurance Regulatory Development Authority(IRDA) * Financial Intelligence Unit (FIU) * FSDC OVERVIEW A regulator is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity. An independent regulatory agency is a regulatory agency that is independent from other branches or arms of the government. Regulatory agencies deal in the area of administrative law—regulation or rulemaking (codifying and enforcing rules and regulations and imposing supervision or oversight for the benefit of the public at large). The existence of independent regulatory agencies is justified by the complexity of certain regulatory and supervisory tasks that require expertise, the need for rapid implementation of public authority in certain sectors, and the drawbacks of political interference. Some independent regulatory agencies perform investigations or audits, and some are authorized to fine the relevant parties and order certain measures. Regulatory agencies are usually a part of the executive branch of the government, or they have statutory authority to perform their functions with oversight from the legislative branch. Their actions are generally open to legal review. Regulatory authorities are commonly set up to enforce standards and safety, or to oversee use of public goods and regulate commerce. Economic regulators are the agencies established by central government...
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...Submitted By : Santhosh Kumar Submitted to : Dr YogeshMaheshwari CCBMDO-09 Financial Management I Assignment I 31 Oct 2012 CORPORATE FINANCING ENVIRONMENT IN INDIA: A CRITICAL REVIEW S No | Topic | Page No | 1. | Executive Summary | 2 | 2. | Financial Instruments | 3 | 3. | Financial Markets | 4 | 4. | Financial Intermediaries | 5 | 5. | The Regulatory Environment | 6 | 6. | The Way Forward | 9 | Executive Summary 1. Corporate finance is used to collectively identify the various financial dealings undertaken by a corporation. Ideally, corporate finance is the division of the company that is mostly concerned with the financial operations of the company. In some businesses, corporate finance primarily focuses on raising money for ventures and projects. For other corporations and investment banks, corporate finance concentrates on analysis of corporate buyouts and other decisions. The core functions of corporate finance are making wise use of the financial resources available to the company. Corporate finance may also take on many different aspects of the overall management of the finances of the company. The functions may also include managing of investments like acquisition and selling stocks, bonds, and other investment ventures pertaining to other companies. It may also involve creating and managing the process for issuing shares of stock or offering corporate bonds to generate resources for expansion projects. 2. The pattern...
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