Corporate Compliance Plan Essay

2825 words - 11 pages

AbstractThe Purpose of this document is to provide a corporate compliance plan for Riordian Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Riordian Industries is an organization dedicated to the strictest corporate compliance as relating to implement enterprise risk management based on the Committee of Sponsoring Organization of the Treadway Commission (COSO). Riordian Industries is projected to have annual earnings of $46 million and has 550 employees. The firm specializes in internationally renowned and patented plastic designs within its four locations, California, Georgia, Michigan and China. The subsequent material is an overview of Riordain's expectations for code of business conduct and ethics. The focus of this outline will include a strategy for preventative measures for managing the legal aspects of business pertaining to the plastics industry. This plan will address the following legal and ethical topics, Alternative Dispute Resolution, enterprise liability, product liability, international law, tangible and intellectual property, legal forms of business and governance.Code of Business Conduct and Ethics for Riordian Industries Inc.This code of business conduct and ethics provides clear guidelines for legal and ethical standards for conducting business, while adhering to policies, procedures, and applicable laws. The scope of this document pertains to all employees, officers and directors of Riordian Industries Inc. and its subsidiaries. The intention of this code is to foster a corporate culture that prevents wrongful conduct and promotes honesty and integrity. This includes ethical steps of conflict resolutions between personal and professional relationships that are specific to alternative dispute resolution (ADR). As part of doing business with Riordian, employees with internal reporting responsibilities must use prompt, fair, accurate, and understandable measures to disclose all accounting reports and documents for Riordian Industries. The reports that are filed with, or submitted to the Securities and Exchange Commission and other public communications shall be done with the Sarbanes Oxley (SOx) regulations. Riordian Industries holds its employees, officers and director's accountable for compliance to internal controls, policies and procedures by ceasing any unethical or unlawful behavior and Riordian Industries executives will fully discipline those who act with disregard to the established corporate code of conduct. Riordian Industries will further takes disciplinary action against those individuals who knowingly allow unethical behavior or conduct by their coworkers and subordinates to go unreported. Failing to act upon offenses is intolerable and may subject employees to termination. Employees, officers and directors of Riordian Industries are expected to be familiar with the specific laws, regulations, policies and procedures that are outlined in this code.Compliance with Laws, Rules and...

Find Another Essay On Corporate compliance plan

Corporate Compliance Plan For Riordan Manufacturing

2458 words - 10 pages Risk/Opportunity Memo PAGE \* MERGEFORMAT 10 Corporate Compliance PlanFor Riordan ManufacturingDenise TucciLAW531 -Business LawJuly 27, 2009University of PhoenixAbstractIncluded in this plan are the ways to effectively and simply reduce and avoid risks of liability and legal actions from exploding into a large lawsuits. Using these simple steps to avoid negative events from erupting into a large issue, can help reduce time and money for any

Riordan Corporate Compliance Plan August 2010 Business Law 531

1894 words - 8 pages Riordan Corporate Compliance PAGE \* MERGEFORMAT 1 Running head: RIORDAN CORPORATE COMPLIANCE PLANRiordan Corporate Compliance PlanBusiness Law 531August 08, 2010Riordan Corporate Compliance PlanThe Purpose of this document is to provide a corporate compliance plan for Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Riordan Industries is an organization dedicated to the strictest corporate compliance as

Corporate Compliance Plan

867 words - 3 pages Riordian Manufacturing is a corporation with plants located in California, Georgia, Michigan and China, and is in known for their plastic designs. This report is to address the information which should be included into the company's handbook, and will address ADR, enterprise liability, product liability, international law, tangible and intellectual property, legal forms of business and governance.ADRWith ADR's efficiency and relatively low cost

Risks of Noncompliance in Corporate Governance

3796 words - 15 pages proceedings. The policies also notate the assignment of committees to ensure company compliance with NASDQ and NYSE as well as SEC and SOX. Its recommended that McBride Financial Service re-evaluate its governance methods and set forth a straightforward and compliant set of policies regarding governance measures.- RecommendationsDevelop Internal Control and Corporate Governance SystemFor a company to ensure complete corporate compliance, it is imperative

Tyco Failure

1162 words - 5 pages policies in place. Enron was a company that had established a code of ethics, yet still suffered financial devastation from unethical behavior and corporate misconduct. Insufficient systems to monitor the organization's compliance to ethical standards can have disastrous consequences.Tyco neglected to establish detective, preventive, and corrective control procedures for effective corporate governance in their overall business plan. Misconduct

Business Failure

1031 words - 4 pages . Insufficient systems to monitor the organization's compliance to ethical standards can have disastrous consequences.Tyco neglected to establish preventive and corrective control procedures for effective corporate governance in their overall business plan. Misconduct and greed at the corporate level eventually resulted in destructive consequences for the company. The organizational structure at Tyco did not have a system of proactive compliance

Implementation of a Corporate Governance Plan

2209 words - 9 pages Implementation of a corporate compliance plan to deal with the corporate governance issues for Riordan is the best opportunity for Riordan Manufacturing, Inc. to assess and analyze its internal control system. This process includes defining and implementing compliance steps and processes. Recommendations will include preventative solutions that incorporate risk mitigation. Additionally, Riordan will use a problem solving approach to determine

Risks of Non-Compliance in Corporate Governance

2295 words - 9 pages Risks of Noncompliance PAGE \* Arabic 1 Running head: RISKS OF NON-COMPLIANCE IN CORPORATE GOVERNANCERisks of Non-Compliance in Corporate GovernanceRisks of Non-Compliance in Corporate GovernanceCorporate governance describes the broad set the rules, processes, or laws in which mandates controls for select businesses. In some cases, it clearly defines the parameters of businesses' operation, regulation, and control. According to Tech Target

McBride Financial Problem Solution

3870 words - 15 pages charters and bylaws to place checks and balances by shifting power from the CEO to an independent board of directors. Another issue is the CEO has no knowledge about corporate governance and regulatory compliance. Hugh McBride wants the controller, Paul Thomas, to handle issues regarding corporate governance, Sarbanes-Oxley Act (SOX), and focus on internal controls. McBride has not submitted any quarterly or annual reports mandated by the SEC

Transparency in Corporate Governance

1625 words - 7 pages develop the trust of investors and attract potential investors and talent. Transparency and compliance in MFSI will affect how customers, suppliers, global trading, and the corporate governance industry rate the company to achieve a sound reputation and a competitive advantage.ConclusionMFSI is a publicly trading company and has the responsibility to show transparency in the internal controls and corporate governance policies. The CEO, Hugh

McBride Financial Services Problem Solution

4457 words - 18 pages they represent, the resulting power vacuum quickly gets filled by corporate managers." MFSI has the opportunity to create a plan for both internal and external controls compliance. Additionally, the plan should include the board of directors to make them aware of federal and stock exchange regulations.Another issue is the lack of internal controls within MFSI. The organization does not have a transparent accounting and financial process. Hugh

Similar Essays

Corporate Compliance Plan Essay

2263 words - 9 pages multiplication of legal issues, Riordan Manufacturing must formulate and implement a corporate compliance program to conform to governmental regulations.The purpose of the corporate compliance plan is to show all stakeholders that compliance is firmly rooted in the Riordan Manufacturing's culture of corporate governance. The function of the plan is to provide management with a reference tool to be used to avoid potential compliance violation. The

Corporate Compliance Plan Essay

1342 words - 5 pages University of PhoenixBusiness LawLAW531February 8, 2010Corporate Compliance PlanThis paper will focus on a corporate compliance plan for Riordan Manufacturing. The plan will show what has been learned and the legal principle of business management that has been or can be applied. The focus of the plan will be on overseeing the legal liabilities of Riordan directors and officers.Riordan ManufacturingRiordan Manufacturing is an organization that

Corporate Compliance Plan Essay

1103 words - 4 pages Corporate Compliance Plan PAGE 1 Corporate Compliance PlanIntroductionRiordan Manufacturing is a plastic injection-molding corporation that creates innovative plastic designs, and has four facilities located in California, Georgia, Michigan, and China. With the state-of-the-art technology, Riordan is capable of producing and manufacturing plastic bottles, fans, heart valves, medical stents, and custom plastic parts. In the following paragraphs

Corporate Compliance Plan Create A Corporate Compliance Plan For Riordian.

1019 words - 4 pages pages will reveal Riordian's corporate compliance plan, while addressing ADR, enterprise liability, product liability, international law, tangible and intellectual property, legal forms of business, and governance.ADRBecause of its efficiency and relatively low cost, the company commits to resolving disputes through ADR (Alternative Dispute Resolution). There are two kinds of ADR available to Riordian employees: Arbitration and