Accurate Financial Reporting
All UMDNJ patient records, accounting and financial records, expense reports, time sheets and effort reports, and other documents including those submitted to government agencies must be accurate, clear and complete.
All published financial reports must make full, fair, accurate, timely and understandable disclosures as required under generally accepted accounting principles for government entities, bond covenant agreements and other requirements. Certain individuals with responsibility for the preparation of financial statements and disclosures, or elements thereof, may be required to attest to the accuracy of those documents.
Failure to fully comply with reporting requirements could jeopardize UMDNJ’s participation in Federal healthcare programs. In addition, individual persons may be:
- Subject to disciplinary actions, up to and including termination, for failure to comply with the reporting requirements or to report suspected violations; and
- Potentially subject to fines, penalties, revocation of licenses and accreditation, criminal and civil actions as well as exclusion from federal and state healthcare programs for failure to comply with the financial reporting rules or to report suspected violations of the Rules.
