Summary: Riordan Corporate Compliance Plan

Riordan Corporate Compliance Plan

LAW/531

January 28, 2013
Rich D’Ambrosio

Riordan Corporate Compliance Plan

A corporate compliance plan is a system that is designed to detect and prevent violations of the law by agents, employees, officers and directors of the business. Guidelines for penalties and punishment for corporate crime are needed to promote good working behavior. The penalties that are associated with these guidelines can range anywhere from fines, corporate probation and even imprisonment. Following specific steps or guidelines can make you corporate compliance plan effective. One thing that will hold the plan together is consistency.
Liability to the Officers and Directors Offices and directories
Training should be implemented to ensure that directors and officers are aware negligence and reliability. Directors should be able to follow the financial flow of the organization. They should be trained on statutory and civil liabilities as well as the risk associated with being a director of an organization. The director and officers should know what information could be discussed outside of the work environment. They should know handle confidant and sensitive information. Lastly not accepting gifts for company duties. Riordan should ensure directors are aware of the organization’s operations and affairs. Maintain formalized operating policies and procedures for all activities within the organization’s control. This is where they can implement financial management policy and reporting guidelines. There should be a level of security that requires access through passwords that should be frequently changed. Formal job descriptions should be with experience required, training required and duties to be performed. There should also be a performed plan created to ensure that we all employees are held to the same standards. This will reduce wrongful termination. Create a formal chain of command with respect to reporting. All decisions that are made should be documented. Working closely with legal representatives in making decisions. Implement a whistle blowers policy that is well communicated to staff
Laws being followed will ensure that Riordan is protected and profitable. The authority to act on behalf of the company is only given to a certain officers and directors. This information should be noted and contracted. Other right and responsibilities should be handles by other department officer that oversee daily task. There should be protection from harm by a company’s production or products. Key member must stay informed of important issues and changes to avoid lawsuits or being fined. An Outline has been created on how to provide profits to shareholders and keep enterprise value outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Avoiding risks by failing to adhere to regulations can be rewarding to any company. Proper documentation and correct recording methods are vital part to the success to providing proof. The records will show how well the company is being run and the measure taken to do so. To keep Riordan profitable we must abide by state, local and foreign laws and policies. This plan can only lead to