Internal corporate audits are essential to managing compliance, mitigating risk and responding to litigation threats. However, in order for an internal corporate audit to serve its intended purpose, it needs to be conducted effectively.
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On May 13, 2021, Rivkin Radler Partner, and former OMIG First Deputy, Robert Hussar kicked off Rivkin Radler’s new Healthcare Compliance Lunch and Learn Series. He interviewed Frank T. Walsh, Jr., who offered his first public comments since assuming his role as Acting NYS Medicaid Inspector General (pending State Senate confirmation).
Mr. Walsh provided health care providers and other stakeholders a glimpse into his perspective in his new role. The Medicaid Inspector General shared interesting insight regarding some of OMIG’s top priorities and key initiatives.
Summary
In the short-term OMIG will continue remote audits except in limited circumstances
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In its first 100 days in office, the Biden administration has
advanced its policy priorities, many of which have involved
repealing the policy accomplishments of the previous presidential
administration. The Biden administration can be expected to advance
its own proposals soon.
The first part of this two-part blog series
focused on the Biden administration s first 100 days and
reviewed the administration s legislative plans. The second
part of the series addresses policy developments occurring at the
executive branch agencies and independent agencies.
U.S. Department of Labor
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In the US Securities and Exchange Commission staff’s most recent guidance addressing environmental, social, and governance (ESG) investing, the staff of the Division of Examinations released an April 9 Risk Alert noting observations made during recent examinations of investment advisers and funds (both registered and private) engaged in ESG investing.
The Risk Alert[1] highlights certain deficiencies and internal control weaknesses observed by the staff, as well as observations regarding what the staff viewed as effective practices related to the management and oversight of ESG investing activities. The Risk Alert also summarizes certain ESG-related areas on which the Division of Examinations (Examinations) intends to continue to focus in its examinations of investment advisers and funds. In an April 12, 2021, statement, US Securities and Exchange Commission (SEC) Commissioner Hester M. Peirce offered her thoughts on th
Powerhouse Points:
An effective antitrust compliance program should be
incorporated in a company s business practices and internal
controls.
Tone at the top is critical.
Senior management must be held accountable.
The importance of the antitrust compliance program should be
reflected in the company s employee evaluation, incentive, and
compensation systems.
Antitrust compliance training should be tailored to the
company s business.
An antitrust violation can be costly for a company. It can
subject the company to criminal fines. Executives may even be
sentenced to jail. If the company does business with a federal or
state agency, it may be subject to debarment, prohibiting the