SBIC Code of Business Ethics and Conduct
| Business Accounting Practice | |||
| Keys to Compliance | Insurance Services' employees, business partners, qualified member school entities, and other stakeholders rely upon the integrity of our accounting and business records. Adequate records must be kept in a complete, accurate, and timely manner to meet our financial, legal, regulatory, and operational objectives. Significant penalties may be imposed on us for failure to comply with required business records and accounting procedures. |
||
|
In the course of employment, every employee records and submits information that will be entered into accounting records. Whether you are filling out a time card, expense report, or reporting on the financial status of Insurances Services, follow the accounting, reporting, and control procedures that we have put in place. Falsification of records or unauthorized entries made into the books will not be tolerated. If you become aware of a situation where accounting practices are not being followed, or where you believe accounting improprieties are occurring, you have the responsibility to report them. The primary means would be to call the Fraud Hot Line at 1-800-670-3523 or through the internet at https://www.compliance-helpline.com/SBICofPA.jsp . You can discuss the issue in confidence and anonymously. Other means to communicate these issues would be through contacting your supervisor, the President of SBIC, or the PSBA Director of Human Resources. The Audit Committee of the Board of Directors will review any accounting related matters. Under no circumstances will SBIC retaliate against an employee because an accounting impropriety has been reported in good faith. |
||
| Disclosures | Disclosures in any financial report must be full, fair, accurate, timely, and understandable. |
||
| Know what records to keep and for how long | Record retention practices can be challenging. Our requirements are frequently based upon specific statutory and regulatory requirements unique to the insurance industry. Failing to comply with our records retention policy, even innocently, can cause serious business or legal repercussions. Such requirements include electronic records such as e-mail. | ||
| Did you know that . . . | . failing to keep documentation could subject SBIC to penalties. . willful recording of incorrect information could be considered a false claim. |
||