Louisiana business owners might wonder whether they are vulnerable to audits or regulatory procedures. Any business could be subject to these, but there are steps a company can take to reduce the likelihood of such a thing happening. Companies can also protect themselves if they do face audits or regulatory procedures.
Properly training staff, communicating with staff and having an attorney review contracts are all important. For example, a medical company should make sure its processes for billing and coding are reviewed regularly and that staff are trained and certified as needed. Consultants can be hired to do audits and address any potential problems.
If a company is notified about an audit or another type of investigation, it may be best to consult legal counsel to ensure that no illegal actions are taken. For example, there could be additional penalties if any data or documents are destroyed. In some cases, a company might not know that it is being investigated under the False Claims Act until the investigation has been going on for some time. In particular, this may be the case if a whistleblower is involved.
Companies that go through audits and that are told they owe payments might want to go through the appeals process. There are multiple steps, and they must be done in the correct order.
From business formation to litigation to audit or regulatory procedures and more, an attorney may be able to offer assistance to a company. In the case of an audit or regulatory procedure, it can be critical that a company follows the required course of action and cooperates with investigators.