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Corporate Compliance Plan

During the start of the new millennium there were large amounts of corporate fraud cases that were brought to light in the United States. These cases opened the eyes of many Americans. This revelation destroyed the lives of several people and CEO’s reputations were soon tarnished. Even though there were current policies, procedures, quarterly audits and COSO (The Committee of Sponsoring Organization of the Treadway Commission) in place during this time, it still was not enough. Corporate executives were taking advantage of their power and were manipulating the system to their advantage and benefiting off of corporate dollars. In 2002 Congress took the additional precautionary steps to help try and cut back on corporate fraud. This in turn helped paved the way for the implementation of the Sarbanes Oxley Act (SOX). SOX requires public companies to evaluate their internal controls and to publish those findings with their SEC filings. The concepts developed in the COSO Report are generally used as the framework to evaluate internal control. (McGladrey, 2009) The COSO framework views internal control consisting of the following five interrelated components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring. (McGladrey, 2009)
The most high profile corporate fraud cases in recent history was centered around Tyco International, WorldCom and Enron, multibillion dollar corporations whose names and reputations were marred by the fraudulent actions of its chief executives who were convicted and sentenced to a lengthy prison term. (The Sunday Times, 2008)

Riordan Manufacturing, Inc Corporate Compliance Plan
Riordan Manufacturing is a global plastics manufacturer. The company was founded by Dr. Riordan, a professor of chemistry. Dr. Riordan started Riordan Plastics, Inc. in 1991 and in 1993 the name was changed to Riordan Manufacturing, Inc. The company now employs more than 500 people. Riordan...