COSO and HHS OIG

7 Minimum Requirements for Compliance
(by US Sentencing Commission)

Preface:
COSO and the OIG seven rules go hand in hand. COSO's focus is on effective and efficient operations, reliable financial statements, and compliance with laws and regulations. HHS OIG guidelines stress a recurring theme of internal controls and internal audit

Objective (of OIG 7 rules):
Prevent and detect violations

The 7 Rules:

1. Implement written Policy and Procedures, and Standards of Conduct
2. Designate Compliance Officer
3. Conduct training
4. Develop lines of communication
5. Standardize and publicize disciplinary guidelines
6. Conduct internal monitoring and auditing
7. Respond to offenses with corrective action and report to government