China. The paper will cover tangible and intellectual property, legal forms of business as well as governess. The paper will also cover enterprise risk management as outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). It will conclude by wrapping up with a discussion on laws that Riordan must follow. Riordan Manufacturing, Inc. is a fortune 1000 enterprise owned by Riordan Industries. The company specializes in plastic injection molding used to create plastic
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Law/531 January 9, 2012 Ayodeji Badaki Riordan Corporate Compliance Plan As an international plastics manufacturer employing 550 workers and $46 million in projected annual revenues, Riordan Manufacturing Corporation is focused providing customer product solutions and promoting a climate that focuses on the long term viability of the company. An important part of providing customer product solutions is being able to establish long term relationships with clients. This means that the company
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serban@gmail.com This paper tries to provide a better understanding of the relation between financial audit and information systems audit and to assess the influence the change in financial audit methodologies had on IS audit. We concluded that the COSO Internal Control – Integrated Framework was the starting point for fundamental changes in both financial and IS audit and that the Sarbanes-Oxley Act should be viewed as an enabler rather than an enforcer in establishing strong governance models. Finally
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include viruses, worms, identity theft, money and proprietary misappropriations. Internal controls as described by the Committee of Sponsoring Organizations of the Treadway Commission (COSO, 2010) as processes providing a reasonable assurance of operations efficiency, financial reporting, and legal regulations. COSO recommends six internal controls in management oversight and a control culture, risk assessment, control activities information and communication, monitoring, and evaluation of internal
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created The Committee Of Sponsoring Organizations, also referred to as COSO, to help sponsor the National Commission on Fraudulent Financial Reporting (Treadway Commission). The 5 associations included the American Institute of Certified Public Accountants, American Accounting Association, Financial Executives International, Institute of Internal Auditors and the Institute of Management Accountants. The original chairman of COSO was James Treadway, which led to it being referred to as the Treadway
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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
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control components are: Control environment – Is the foundation for all other components of internal control, providing discipline and structure. Control environment comprise of the integrity, ethical values and competence of the entity’s people. (coso) Top management of LBJ Company should make it clear that the company values integrity and that unethical behavior will not be tolerated. Risk assessment – The organization must identify and analyze the different factors that generate risk for the
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Riordan Corporate Compliance Plan Law 531 Riordan Corporate Compliance Plan In order to minimize risk in today’s changing global business environment applying the legal principles of business management is essential. An effective manage has to quickly and precisely analyze each situation and be able to find the problem and fix it with the best legal solution. Businesses need and manager’s a like need a legal road map that will help them make these important decisions effectively. A good example
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the rules defined in the Securities Exchange Act. In addition to establishing the controls, they are also required to evaluate the effectiveness of the controls against the criteria established in the Internal Control-Integrated Framework issued by COSO. Second, Section 409 of SOX requires management to disclose material changes in internal control, and the results or potential effects of those changes. Finally, Section 404 of SOX requires Dell’s auditing firm to evaluate management’s assessment
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Corporate Compliance Plan Katrina Le`Vere University of Phoenix LAW 531 February 28, 2012 Riordan Manufacturing Legal Issues Riordan Manufacturing is a global plastic manufacturing company located in San Jose, California. The company employs more than 500 people producing plastic beverage containers, custom plastic parts, and plastic fans. Riordan’s major customers are the Department of Defense, beverage makers, manufacturers of automotive parts, aircraft, boilers, and appliances. Success
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