Accounting Principles and Ethics Article Generally accepted accounting principles and corporate compliance, ethics or fraud and abuse are very important when it come to the financial management of health care. The accounting rules used are to be followed so that the information provided on financial statements is useful to those making economic decisions about a company, such as potential investors and creditors. Corporate compliance is necessary because it deals with the improving of overall care and is tailored to specific components of the health care industry such as clinical labs and hospitals. The Office of the Inspector General of the Department of Health and Human Services (OIG) has been the leader in identifying compliance requirements for the health care industry. The OIG focuses on the substantive components of a compliance program and describing the benefits of these types of programs. The benefits the OIG sees to a health care company from the creation of their compliance program are: demonstrating to employees and the community the provider�s commitment to honest an......

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