The University of Pittsburgh Medical Center -- a public, nonprofit health care organization -- is proclaiming itself to be the first such organization to voluntarily attain compliance with the Sarbanes-Oxley Act of 2002. Its outside auditors, Ernst & Young, are expected to certify that compliance in a matter of weeks, according to ModernHealthCare.com.
As the writer points out, a claim like that can be difficult to verify simply because Sarbox was not written to apply to nonprofits. Necessarily, then, UPMC had to "fudge" on some of the requirements.
Even so, we find it fascinating that an organization not legally required to comply would do so, especially in an age when so many that must comply are complaining so loudly about how burdensome it has become, or how it keeps them from the business of their businesses.
Apparently it wasn't a hard decision for UPMC to make. Even though the organization doesn't report to shareholders, a spokesperson said, it should be accountable to the community members whose tax dollars fund its efforts.