Riordan

Riordan Compliance Plan

Business Law 531

March 22, 2010

Scott Hauert

RIORDAN COMPLIANCE PLAN

Riordan’s corporate compliance plan outlines its mission: to ensure awareness and compliance with applicable laws, rules and regulations to the workforce, including federal and state programs, fraud, waste and abuse, ethics, privacy and security requirements and corporate governance. The purpose of the compliance plan describes the importance of internal controls and submits a proposal to mitigate enterprise risks by applying sound principles and recommendations found in the Committee of Sponsoring Organization of the Treadway Commission (COSO). Riordan has both a legal and an ethical obligation to ensure high ethical standards are implemented. The company needs to comply with state and federal legislation and regulation as well as the overall general requirement to comply with generally accepted business standards and practices. The intent of the compliance plan is to demonstrate the commitment to compliance as well as laying down the required standards and practices that will not only meet, but also exceed legal obligations. The company will adopt a proactive role in compliance issues in order to protect the interest of the company, the employees and environment as well as to the broader stakeholders. Compliance needs to be seen as an indicator of the organization's health and is just as important as financial result (Degroot, 2005).

Purpose

The plan states the fundamental policy of Riordan Manufacturing (RM) that all of its business shall be conducted in compliance with all applicable laws and regulations of the United States, the State of California, applicable local laws, and ordinances and the ethical standards of the industry, as interpreted by RM. The laws, regulations, and ethical rules that govern and the conduct of those associated with RM are too numerous to list in the plan. Fundamentally, however, all persons employed by or associated with RM,...