Many of the regulations you have read about this week were developed from prior actions within the medical community that warranted changes to be made to protect patients, individuals, investors, and other stakeholders. The Sarbanes-Oxley (SOX) Act of 2002 was born out of several accounting scandals at the time. One of these accounting scandals was HealthSouth Corp., the nation's largest provider of outpatient surgery, diagnostic and rehabilitative healthcare services at the time (Sec.gov, 2003). Discuss the importance of fair and accurate financial reporting in the healthcare industry in a few paragraphs.

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Fair and accuracy in any system leads to the stability of the state and is the sign of good governan... View the full answer