Corporate Compliance, Fraud, And Abuse Assignment: Assess Your Organization's Readiness For Corporate Compliance

Corporate ComplianceAuthorDepartment, University Course code: Course title Instructor Due DateCorporate Compliance, Fraud, and AbuseAlpha Health Care (Fictional organization)STANDARD OPERATING PROCEDUREPreventing fraud and abuseStandard Operating Procedure No. 26Revision No: PR00124Original Date of Issue: 14- 07-1991Revision Date: 15-11-2020 Revised by: Dr Terry Blackstone Approved by: Dr Alphonse Taylor Background: This SOP aims to improve the organization's compliance with the Sarbanes-Oxley Act (Moeller, 2008). PurposeTo address allegations of financial fraud and abuse of resources reported at the institution.To ensure that all those who engage in fraudulent behaviour are investigated and charged accordingly.To make sure that management is aware of their responsibilities in curbing fraud and abuse in the institution and they act accordingly against the malicious activities.Scope of PolicyThis policy applies to fraud and, a suspected case of fraud involving employees, suppliers, contractors, and other service providers.Definition of FraudFraud refers to an act of wilful deception with the intention of financial or personal gain. Fraud may also include the presentation of false statements or hiding facts. Abuse on the other hand is the improper utilization of resources (Mayer, 1995). It includes the excessive use of resources beyond the natural amount required to the detriment of