Friday, February 08, 2008 The 1199 SEIU United Healthcare Workers East sent letters to six of Beth Israel's 18 board members, who also serve as executives or sit on boards of public companies, citing state law as a precedent for the request. The SEIU acknowledges that under federal law non-profit organizations are not required to adhere to Sarbox provisions. However, the union says that under Massachusetts law, non-profit directors must use their expert knowledge and experience in their role as non-profit fiduciaries. As a result, argue union officials, any director who applies Sarbox standards to their public company duties are required to do the same at a non-profit. Does Mass. Law Force Sarbox on Non-Profits? Labels: compliance, non profit, sarbanes oxley Previous articles SOX Life Blog: Risk-Based SOX Implementation - Del...
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