Corporate Compliance Plan Paper
University of Phoenix
LAW/531: Business Law
Joseph Balistocky, JD, MFCC
April 17, 2012
Riordan Corporate Compliance Plan
Riordan Manufacturing is a $1 billion Fortune 100 organization with approximately 550 employees specializing in plastic patient design with operations in the United States and China that realized $46 million in revenue last year. Due to concerns originating out of the company’s expansion into e-Commerce and increasing international sales, the company has decided to implement a enterprise risk management (ERM) program based on internationally recognized Committee of Sponsoring Organization of the Treadway Commission (COSO) Guidelines. The COSO design was chosen for its emphasis on defining processes that enhance an organization’s management responsibilities, legal risks and rights of employees in relation by advocating a dispute management process (University of Phoenix, 2012).
At Riordan Corporation, the executive level officers also act in a fiduciary capacity with responsibility for acting in the best interest of the organization while upholding a high standard of corporate behavior. The executive level senior management of the organization along with the internal auditor level officers of the company are included in the Riordan organizational chart with clear duty responsibilities outlined in detail with corporate SEC filings. Additionally, due to government prosecutions of executive level management in other organizations for criminal acts in recent years, the organizational shareholder meeting minutes include clear references to the executive level responsibility to manage the company’s legal risk. Therefore, the Riordan enterprise risk management (ERM) program is essential to the organization’s...