Health care entities cover a wide range of service providers to health care patients, including hospitals, nursing homes, and continuing care retirement communities. The health care industry is expected to see significant growth in the next decade driven by an aging population, longer life expectancies, as well as new treatments and technologies. Health care entities present auditors with a number of unique issues and risks, and the recent changes in health care reform add to the complexity of auditing those types of entities. If your firm audits health care entities, these Practice Aids are aimed at this specialized industry.
PPC's Practice Aids for Audits of Health Care Entities includes the following sets of practice aids:
- PPC's Practice Aids for Audits of Health Care Entities (Nonprofit and Investor-owned Entities) provides all of the practice aids you need for auditing nonprofit business-oriented health care entities and investor-owned health care entities.
- PPC's Practice Aids for Audits of Health Care Entities (Special-purpose Governmental Entities) provides a complete set of practice aids for auditing governmental health care entities that report as special-purpose governments engaged only in business-type activities (that is, whose financial statements are prepared using enterprise fund accounting and reporting).
These Practice Aids provide you with the only complete set of audit practice aids on the market today that address the specific issues faced and unique audit risks encountered when auditing investor-owned, nonprofit, and special-purpose governmental health care entities, including those entities subject to Government Auditing Standards (Yellow Book) requirements, but not subject to Single Audit requirements.
- These Practice Aids, which include confirmation and correspondence letters, checklists, and audit programs, are based on the proven PPC audit approach and utilize the practice aid forms and formats that you are familiar with, but they have been specifically tailored for the health care industry.
- Developed by CPAs who have extensive experience auditing health care entities and who understand the unique engagement performance issues you encounter, these Practice Aids are full of practical considerations to alert you to the areas where special considerations are necessary when auditing health care entities.
- The checklists address specific factors to consider and risks that are unique to audits of health care entities.
- The confirmation and correspondence letters (such as the engagement letter, representation letter, and malpractice liability insurance confirmation letter) have all been tailored for auditing health care entities, so you won't have to spend time addressing how to revise those important communications.
- The audit programs have been extensively revised to focus on audit areas common to health care entities, including patient revenues and receivables, third-party payor settlements, and medical malpractice liabilities. Also included are program steps for auditing revenue related to nursing home or other post-acute care services, home health services, and hospice care services as well as liabilities for continuing care retirement communities advance fees.
- We've included a disclosure checklist supplement that addresses all of the additional disclosures related to nonprofit and investor-owned health care entities, and we've tailored our standard governmental disclosure checklist to focus only on the disclosures related to a special-purpose governmental health care entity.
