Riodan Compliance
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Running head: RIORDAN COMPLIANCE POLICY
Riordan Compliance Policy
Emily E. Unruh
University of Phoenix
Business Law
LAW/531
Miriam V. Gold
February 21, 2009
Riordan Compliance Policy
I. Policy Statement – Plastic manufacturing companies are subject to substantial compliance risk, which is the risk of legal or regulatory sanctions, financial loss, or damage to reputation and franchise value that the company may suffer because of its failure to comply with laws, regulations, standards, or codes of conduct applicable to the business activities and functions of the company.
II. Management of Compliance Risk – The management of the company’s compliance risk necessarily involves participation of Directors, Officers, Management, and the individual business units. The roles and responsibilities of the various parties in this process will be as follows:
A. Directors/Officers Responsibility – The Directors and Officers are ultimately responsible for Riordan’s Compliance Program. The Directors and Officers hereby empower management to implement an effective Compliance Program by garnering the unequivocal support of all employees to adhere to the Program. Further, the each is responsible for ensuring adequate resources, including ongoing training. The Directors and Officers are responsible for oversight of management’s implementation of the compliance risk management system, including:
• Approval of this Program;
• Receiving quarterly management reports on the status of the compliance risk management system and Riordan’s level of adherence to compliance with applicable laws and regulations;
• Ensuring that compliance issues that have been identified are resolved effectively and expeditiously by management and the affected business unit; and
• At least annually, assessing the extent to which Riordan is effectively managing its compliance risk.
• Periodically assess the nature and quality of the Compliance Program.
B. Executive...
Riordan Compliance Policy
Emily E. Unruh
University of Phoenix
Business Law
LAW/531
Miriam V. Gold
February 21, 2009
Riordan Compliance Policy
I. Policy Statement – Plastic manufacturing companies are subject to substantial compliance risk, which is the risk of legal or regulatory sanctions, financial loss, or damage to reputation and franchise value that the company may suffer because of its failure to comply with laws, regulations, standards, or codes of conduct applicable to the business activities and functions of the company.
II. Management of Compliance Risk – The management of the company’s compliance risk necessarily involves participation of Directors, Officers, Management, and the individual business units. The roles and responsibilities of the various parties in this process will be as follows:
A. Directors/Officers Responsibility – The Directors and Officers are ultimately responsible for Riordan’s Compliance Program. The Directors and Officers hereby empower management to implement an effective Compliance Program by garnering the unequivocal support of all employees to adhere to the Program. Further, the each is responsible for ensuring adequate resources, including ongoing training. The Directors and Officers are responsible for oversight of management’s implementation of the compliance risk management system, including:
• Approval of this Program;
• Receiving quarterly management reports on the status of the compliance risk management system and Riordan’s level of adherence to compliance with applicable laws and regulations;
• Ensuring that compliance issues that have been identified are resolved effectively and expeditiously by management and the affected business unit; and
• At least annually, assessing the extent to which Riordan is effectively managing its compliance risk.
• Periodically assess the nature and quality of the Compliance Program.
B. Executive...