Petro introduces revised rules for charities.

PositionOhio

A significantly scaled-down set of rules affecting charitable entities has been filed by Ohio Attorney General Jim Petro with the Joint Committee on Agency Rule Review (JCARR).

The original proposal included provisions that would have applied Sarbanes-Oxley-like provisions, such as mandatory audit partner rotation, bans on non-attest services and signoffs by key corporate officers. Petro also omitted provisions that would have capped hospital and private college executive pay at $321,600.

Key components of the revised rules proposal include:

* Appointing a panel of industry experts to study the regulations

* Requiring non-profit hospitals and some non-profit nursing homes to register and file reports with the Attorney General's...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT