RIORDIAN CORPORATE COMPLIANCE PLAN

Running head : RIORDIAN CORPORATE COMPLIANCE PLAN

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Introduction

The corporate compliance plan for Riordian Manufacturing will focus on the key aspects of ethical issues and good governance that can enhance the stature of the company and its performance outcomes . Basically it is divided into 5 subheadings that more or less cover every aspect of compliance . Enterprise risk management should be applied to all processes that occur in the company . Assessing the possible risk and developing ways to effectively manage them are paramount if

the company is to survive difficult economic conditions (COSO ERM Executive Summary 2004

Dispute resolution in the normal activities , the company may break contractual arrangements with its publics . In addressing the concerns raised out the breach , the company should include arbitration as the first course of action in resolving any dispute . This will save both parties lots of money that would have been spent on litigation and ensure a win- win result is achieved . As a consequence , amicable relationships will be maintained and company image protected from the fallout of acrimonious court cases . The company and the aggrieved party should be committed to the policy of alternative dispute resolution and the respect the outcome . The company must be at the forefront in ensuring neutral arbiters are selected to avoid the accusation of bias Product liability will be limited to various factors and consumer redress will be guided by the relevant laws (COSO ERM Executive Summary 2004 . All supplies being delivered must be checked by the quality control section to ensure that all products are maintained to international standards . All stages in the production process should be routinely assessed to ensure compliance with quality checks

Accounting matters following high pro cases of corporate misconduct , the company restates its commitment to the policy of good governance and its determination to adhere to the dictates of the Sarbanes- Oxley Act in CEO and board directors who will be held liable in the event that fraudulent information was given to the public . No insider loans will be given to management staff or members of the board (Case Management of Michigan Inc , 2004 . Reimbursement of all expenses must be backed by genuine documents and should only cover those items allowed for by the accounting department . In the event that false claims are made the offending employee will face certain sanctions that will include instant dismissal . Any employee who attempts to use undue influence to cause another worker to edit a report so as to doctor the results is liable to face internal disciplinary measures . If the incident is of a criminal nature , the case may be forwarded to the relevant authorities for further action

Personnel matters the company will issue a code of conduct and compliance plan annually to current employees and new recruits . They must ensure that they have read it and are willing to comply with all the terms and conditions by signing it in the presence of the compliance officer . Regular seminars will be held...