Do I need to require financial documents like tax returns and bank statements when collecting faculty disclosure information?

Per Standard 3, ACCME requires that accredited providers identify, mitigate, and disclose relevant financial relationships–but it does not require you to dive into individual finances!  When it comes to collecting information, be clear in your requirements for disclosure (all financial relationships with ineligible companies within the prior 24 months, in any amount, including the name of the ineligible company and the nature of the relationship) and vet responses for completeness.  Some reported relationships might require due diligence/more review than others, but you are not required to go down a financial rabbit hole.

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Weekly Compliance Tip

Do we need to take stocks into account when reviewing someone’s financial relationships?

Yes.  Stock information will help you determine if an individual… More >

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