Alexander Binelo, CPA | MBAF
The busiest time of year for auditing health care financial statements is upon us, and this year, there are have been several widespread changes in the health care industry that will impact how these audits are conducted:
- Industry consolidation and the related business combination accounting rules;
- Increased activity of risk-based payment arrangements; and
- Taxes and net premiums written for health insurance.
These audit issues can be complex so external third party auditors and their clients should work together on these issues during the planning phase of the audit to avoid any delays and be able to satisfy the looming deadlines.