...Riordan Manufacturing Corporate Compliance Plan LAW 531 – Business Law Facilitator: Gregory Schumacher March 30, 2009 University of Phoenix – Online Campus Riordan Manufacturing Corporate Compliance Plan Riordan Manufacturing, Inc. has been an industry leader in the plastics molding industry for nearly 20 years, and its success has been built on a formula of state-of-the-art research and development, strong customer relationships, and innovative, team-oriented employees. The current economic environment, state and federal regulations, and legislative statues present challenges to Riordan that require implementation of strong methods for organizing risk management responsibilities and activities. To achieve business objectives and continued competitive advantages, Riordan must structure risk management responsibilities and activities using a formalized process. The Enterprise Risk Management (ERM) process will ensure identified risks are properly assessed, controlled, and monitored throughout the company to reduce Riordan’s exposure to legal liabilities. This compliance plan outlines the ERM process for Riordan following the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework recommendations on critical aspects of organizational governance, business ethics, internal control, enterprise risk management, fraud, and financial reporting. Enterprise risk management deals with risks and opportunities that affect business value, negatively or positively...
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...Riordan Corporate Compliance Plan University of Phoenix LAW 521 William Eshelman February 19, 2012 Riordan Corporate Compliance Plan “The low end of the range without an effective program can be higher than the high end of the range with an effective program” (Youngberg, 1998). Statements such as this are exactly why a comprehensive compliance plan should be in place for any successful organization. Financial penalties are implemented for lack of compliance plans. There are various methods and calculations used to determine the amount of these fines. These penalties are lowered and can even be offset in some cases with a good compliance plan in place. Instituting a corporate compliance plan is also a viable tax deductible. To address Riordan’s possible liabilities, we must be sure of its ability to implement the plan in opposed to the risks of the violation. It could prove more difficult and cost ineffective if it is difficult to adhere to the plan. To implement a compliance plan effectively, an internal audit is necessary. Some points to consider during this audit are: a. Size of our organization b. Involvement of board directors and execs c. Company resources available to implement this plan This proposed plan is for all employees. Compliance with the program starts with the officers and directors of Riordan. All employees of Riordan are expected to follow the set standards. The administration of Riordan is no exception to the set standards. This...
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...Corporate Compliance Plan Law/531 July 23, 2012 Company Overview Riordan Manufacturing, a subsidiary of Riordan Industries, is an international corporation with hundreds of employees worldwide with $1billion in annual revenues, making it a Fortune 1000 business. Riordan Manufacturing is a leader in international business for its production and manufacturing of plastic and polymer injection molds. Some of their current customers and clients include the department of defense, the aircraft and automotive developers, healthcare companies, beverage, cosmetic and more. Products the company produces include but not limited to plastic bottles and containers, fans, medical stents and fans. With the corporate headquarters located in San Jose, CA, the company has several production facilities in Georgia, Michigan, and also a joint partnership within China. Today, we will present to the Officers and Directors of Riordan a Comprehensive Corporate Compliance plan to help assist Riordan continual mission and growth to which will be determined on how well the company can handle and manage compliance issues. We will cover how to manage the legal liability of officers and directors of the company, how to properly address situations when the law is violated, enterprise liability, protecting the company’s real and intellectual property, governance, and international laws that the company must follow. Management Responsibilities and Guidelines Riordan very own Employee Handbook...
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...Corporate Compliance Plan A corporate compliance plan makes good business sense. Not only does it make good business sense, but it is also a requirement to be listed on the stock exchange. Riordan Manufacturing is a Fortune 1000 company which is wholly owned by Riordan Industries. Riordan is located in San Jose, California. Riordan Manufacturing is the industry leader in the field of plastic injection molding. With more than $1 billion in revenues and annual earnings of approximately $46 million it is imperative that Riordan Manufacturing have a compliance plan in place. Legal Liability of Officers and Directors Officers and directors of Riordan Manufacturing have a duty to exercise due diligence in overseeing the activities of the organization that they serve. Following the policies and procedures implemented in the formation of the organization is important to how smoothly the organization runs. There are three basic duties officers and directors have: duty of diligence, duty of loyalty, and duty of obedience. Duty of diligence requires that they act reasonably, in good faith and in the organization’s best interest; duty of loyalty requires that they place the interest of the organization before themselves; and duty of obedience requires them to act within the rules and laws. Officers and directors who fail to follow these three responsibilities can be held personally liable for their own actions as well as the actions of others or the organization. They can face fines or...
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...Team C Employee Compliance plan Discussion Team C employee compliance plan consisted of employment laws for small and medium businesses. Interstate commerce include a limousine service and construction company. The limousine service will open with 25 employees in Austin, TX. While the construction company will add 130 new employees to its 650 employee workforce in Arizona. The most relevant employment laws we agreed upon are, Texas and Arizona minimum wage laws, Title VII of the Civil Rights act of 1964 and Equal Pay act. According to ("Texas Work Force Commission", 2011) Texas follows the federal minimum wage of $7.25. In order to remain complaint, employers must pay their employees the minimum. Employees are allowed to bargain with employers for a higher pay if they feel their qualification exceed the minimum pay. Employers who are found in violation may be fined up to $10,000. According to ("Industrial Commission of Arizona", n.d.) an Arizona employer is required to pay employees at least $7.90/ hr. Failure to comply with Arizona Minimum wage act will result in “a civil penalty of at least $250 for the first violation and at least $1000 for each subsequent or willful violation. Special monitoring and inspections may also be imposed. Additionally, if an employer fails to maintain the required records, it is presumed that the employer did not pay the required minimum wage. An employer has the right to rebut this presumption with evidence that the employer paid the employee...
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...INTRODUCTION This plan is an integral part of North Side’s ongoing efforts to achieve compliance with federal and state laws relating to billing for clinical services. The Plan creates a comprehensive and centralized system of oversight for bill coding, education, chart review, reporting and discipline (“Discipline,” as used throughout this policy shall include all steps described in the Human Resource policy manual and faculty policies and regulations including, without limitation, termination and tenure revocation). This Plan provides for oversight by a Compliance Program Medical Director and Compliance Officer. Although the intent is to encourage compliance through a centralized audit system, it remains the responsibility of each individual involved with the billing process, from physicians and other providers to clerical staff, to comply with the law. The purpose of this Plan is to ensure that clinical services are adequately documented and that properly coded bills are submitted only for documented services. This Plan is to be read in conjunction with and is an integral part of the University of Rochester Medical Center Compliance Plan, which is set forth in a separate document. In addition, it is anticipated that individual departments of the University will create specialty-specific billing compliance plans, which will be subject to review by the Compliance Program Medical Director and Compliance Officer. The University acknowledges that this plan is only the beginning...
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...Corporate Compliance Plan for Riordan Manufacturing University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address...
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...Compliance Plan - Riordan Jennifer Stucky Law 531 - Business Law August 20, 2010 Professor Musafia Compliance Plan – Riordan International Law Riordan currently has a joint venture with a small consortium of Chinese nationals in China. The joint venture project produces plastic fan parts in Hangzhou, China. Riordan shall meet all fiduciary duties of loyalty and care in this joint venture as it is liable for damages for any breaches caused. Riordan shall adhere to the regulatory laws of China regarding how the operations in Hangzhou are run. Riordan shall ensure compliance in this area by establishing within their contract with the Chinese joint venture partners the responsibility to interface with local vendors, governments, and regulatory agencies. Riordan shall ensure compliance with all bilateral treaties with the United States and China or other countries they have customers with. These treaties are equivalent to international legislation. Riordan shall ensure compliance with these treaties by checking with the United Nations for all registered and published treaties and will update their policies within 30 days. Riordan shall comply with the United Convention on Contracts for International Sale of Goods (CISG) with its customers in Japan, China, Italy, Taiwan, Germany, Canada, United Kingdom, Brazil, India, Thailand, and Russia. The CISG establishes the rules governing the formation, performance and enforcement of the international sales contracts...
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...Corporate Compliance Plan For Riordan Manufacturing Denise Tucci LAW531 -Business Law July 27, 2009 University of Phoenix Abstract Included in this plan are the ways to effectively and simply reduce and avoid risks of liability and legal actions from exploding into a large lawsuits. Using these simple steps to avoid negative events from erupting into a large issue, can help reduce time and money for any company. Having the ability to capitalize on a risk or an event and then turning it into an opportunity can be a great asset to Riordan Manufacturing. Corporate Compliance Plan For Riordan Manufacturing Overview After reviewing various departments, processes and documentation about Riordan Manufacturing, some improvements and changes might need consideration by the officers and directors of Riordan Manufacturing and Riordan Industries as a whole. Following are specific issues that could evolve into much bigger problems if the company doesn't supervise and oversee the activites involved. ADR When the officers and directors meet to discuss possible changes needed, they need to follow all bylaws and agreed upon proceedures as written during the creation of the corporation. If there is a disagreement or impass causing an issue from being resolved, then an alternative dispute resolution (ADR) should be in place to avoid spending time and money. An ADR should be included in any contracts with Riordan's clients, vendors and investors. This clause can help avoid going to court...
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...Riordan Corporate Compliance Plan Learning Team B Veronica Garcia Maribel Rojas Lorena Soto LAW/531 July 23, 2012 Roger Rodriguez Abstract The use of university resources and materials allows teach team members to create Riordan’s Corporate Compliance Plan. In the compliance plan students address the lawful responsibility of Riordan’s executives and presents solutions to situations, which laws have been violated and consequently propose corrective actions. Moreover, the compliance plan study includes relevant information, which further discusses Riordan’s enterprise liability, real, and intellectual property, the governance principles of regulatory compliance as well as international laws or aspects of such that Riordan must adhere to. Riordan Corporate Compliance Plan Riordan’s corporate compliance plan is not only essential but also critical to be in compliance with rules and regulations. The main focus of a corporate plan is essentially to focus on how the lawful responsibility of the executives of Riordan will manage and address situations that may arise. The compliance plan will also focus on what decisions need to take position when laws are not in compliance, when legal council is important and will establish what rights employees have and who individuals may turn to when actions are taken against the organization. Riordan Manufacturing has executed a business fulfillment plan designed accordingly to the organization’s areas...
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...Hospital Coding Compliance Plan. The missing elements of the Coding Compliance Plan include: applicable reporting requirements required by specific agencies; areas of risk that have been identified through audits or monitoring; a process for coding new procedures or unusual diagnoses; a procedure for processing claim rejections; the use of and reliance on encoders within the organization; and a reference to the AHIMA Standards of Ethical Coding. A Coding Compliance Plan needs to have all the recommended subjects covered to ensure compliance with coding protocol. Coding Compliances Plans should include applicable reporting requirements required by specific agencies. Policies and procedures are used to direct staff on how different matters should be handled, therefore, having information on reporting requirements for specific agencies will assist coders as well as other...
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...Click MORE. • Select the Download (English) the free executive summary link. Research additional information in the Guidance and Resources sections at the COSO website. View the Riordan virtual organization. Create a corporate compliance plan consisting of no more than 2,450 words for Riordan. Focus your plan on managing the legal liability of officers and directors of Riordan. The plan must also address how to handle situations when laws are violated or in question (such as when to call in legal counsel, what rights the employees have, or who to turn to when actions are taken against Riordan). Your plan must also include the following: • Enterprise liability • Real and intellectual property • Governance principles of regulatory compliance requirements • The specific international laws or aspects of the law that must be adhered to by Riordan and an outline of these steps for employees to adhere to these laws Format your Corporate Compliance Plan as if you were going to distribute this to the officers and directors of Riordan. Outline the prevention and management guidelines of the legal aspects listed above. Implement enterprise risk management based on the COSO’s 8 interrelated components. COSO can be used to structure your plan. Be sure to incorporate key concepts from your readings where appropriate. You need to research requirements...
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...Introduction The paper provides an overview of the Riordan Manufacturing Company and explains the purpose of the Corporate Compliance Plan. Next, the paper emphasizes four main issues which are Enterprise and Product Liability, Real and Intellectual Property, Governance and International Law related to Riordan's situation. The paper concludes with the Riordan's future legal responsibilities that can affect workforce productivity, customer relationships and customer relationships. 1. Organization Overview Owned by Riordan Industries, Riordan Manufacturing is an international plastic manufacturing company specializes in manufacturing plastic parts for the beverage manufacturing industry, automotive industry, and fan manufacturers with its headquarters lodged in California. After its foundation by Dr. Riordan in 1991, Riordan Company has tried to expand its capability in terms of production of plastics and beverages containers. The company has increased its level of productivity and opened a number of new manufacturing branches in Albany, Michigan, Pontiac, and China, Hangzhou. Riordan's product line includes plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts are produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the newest facilities in Hang Zhou, China. Riordan's major clients are automotive parts and aircraft manufacturers, the Department of Defense, beverage makers and bottlers and appliance manufacturers...
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...Employment Law Compliance Plan Curtis E. Hall II HRM/531 June 29, 2015 Dr. Brian Frank To: Traci Goldman FROM: Curtis E. Hall II DATE: June 29, 2015 SUBJECT: Employment Law Compliance Plan With respect to your request, I am responsible for creating an employment law compliance plan for my client Mr. Bradley Stonefield. Mr. Stonefield will be opening a limousine company in Austin, Texas and his intent is to employ 20 to 25 personnel within the first year of operation. The purpose of this compliance plan is to ensure that Mr. Stonefield business succeeds. There are specific employment laws that will directly impact Mr. Stonefield’s limousine business and adhering to these laws will allow him to avoid penalties and fines. There are certain laws from both the federal and state level that Mr. Stonefield must comply with. The Federal Laws include the Equal Pay Act of 1963 which ensures impartial and fair compensation to both men and women and the Americans with Disabilities Act (ADA) that protects qualified potential employees with disabilities against discrimination. Also Texas adopted the Federal Minimum Wage rate which is $7.25 per hour which needs to be enforced. From a state perspective all drivers who transport more than 16 passengers must obtain a valid commercial driver’s license. Additionally all drivers must have a valid commercial C Texas driver’s license in their possession already and undergo a formal background check. Also Mr. Stonefield...
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...Employment Law Compliance Plan TO: Traci Goldeman, Manager, Atwood and Allen Consulting FROM: Yvette Calderon, Market Research Assistant DATE: February 17, 2014 Employment Law Compliance Plan Business Regulatory Enforcement Fairness Act or SBREFA was passed by the congress in 1996 because of the concerns made by small business community. SBREFA was formed to help the small business in understanding and compliance with regulations. OSHA has levied fines of various amounts for the violation of OSHA regulations. These fines can differ based on the severity of the violation (Small Business Regulatory Enforcement Fairness Act of 1996, n.d).The Texas Labor Code Anti-Discrimination Provisions Texas like many other states has its own laws for employment discrimination but employers who abide by the federal statute will be safe under the Texas state law as well. The reason for this is that the Texas Labor Code Anti-Discrimination Provisions are parallel with the Federal Discrimination guidelines. However, there is a trend throughout cities and counties with America that allow these local municipalities to have their own ordinances. In Texas, local government can and sometimes do establish their own anti-discrimination rules. In the city of Austin, several city ordinances make it unlawful to deny access to public accommodation or discriminate in employment on the basis of gender identity or sexual orientation specifically to lesbians and gays. It is also illegal to discriminate...
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