Riordan Manufacturing Corporate Compliance Plan

Topics: Management, Consumer Product Safety Commission, Arbitration Pages: 2 (447 words) Published: August 4, 2009
Riordan Manufacturing Corporate Compliance Plan Riordan Manufacturing is committed to conducting its business activities in an ethical Any dispute, controversy or claim arising out of or relating to legal contracts, including the formation, interpretation, breach or termination thereof, including whether the claims asserted are arbitral, will be referred to and finally determined by arbitration in accordance with the AAA International Arbitration Rules. The tribunal will consist of three arbitrators. The place of arbitration will be San Jose, CA. The language to be used in the arbitral proceedings will be English. Judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. B. Enterprise Liability and Risk Management Board of Directors- The board should discuss with senior management the state of the entity’s enterprise risk management and provide oversight as needed. The board should ensure it is aware of the most significant risks, along with actions management is taking and how it is ensuring effective enterprise risk management. The board should consider seeking input from internal auditors, external auditors, and others. Senior Management- Assess the organization’s risk management capabilities. In one approach, the chief executive brings together department heads and key functional staff to discuss an initial assessment of enterprise risk management capabilities and effectiveness. Whatever the form, an initial assessment should determine whether there is a need for, and how to proceed with, a broader, more in-depth evaluation Other Entity Personnel- Managers and other personnel should consider how they are conducting their responsibilities in light of this framework and discuss more senior personnel items for strengthening enterprise risk management. Internal auditors should consider the breadth of their focus on enterprise risk management Riordan Manufacturing strongly supports equal employment and...

References: {text:bookmark-start} Consumer Product Safety Commission (2005, January). Regulated Products Handbook. Retrieved October 4th, 2008, from {text:bookmark-end} {text:bookmark-start} Jennings, M. M. (2006). Business: Its Legal, Ethical, and Global Environment (7th ed.). Mason, Ohio: Rob Dewey. {text:bookmark-end}
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