Running Head: Riordan Corporate Compliance Plan
Riordan Corporate Compliance Plan
University of Phoenix
Corporate Compliance Plan
I. Organization Overview
Riordan was founded in 1991 by a professor of chemistry named Dr Riordan. He developed several products and obtained patents relative to processing different polymers into high strength plastic substrates (University of Phoenix, 2004). The company started as Riordan Plastics, in 1993 changed to Riordan Manufacturing with the acquisition of a manufacturing plant in Albany, GA. In today’s time, Riordan has expanded their manufacturing plants to include on in China. They produce plastic fan parts ...view middle of the document...
It will contain resources for questions that may arise about appropriate conduct in the workplace. Instances in which questions do arise, will be directed to the President, Dr Michael Riordan, or the Corporate Compliance Officer that will be appointed by the Riordan Board of Directors.
III. Code of Business Conduct and Ethics
The Code of Business Conduct and Ethics applies to all Riordan employees, officers, and directors. This company is proud of the way they conduct business and will continue to conduct the highest level of business ethics and integrity. This will organize and emphasize the way the company is committed to compliance to the law. It will also set standards of ethical behavior, and help prevent any wrongdoing.
IV. Ethical Standards of conduct
A. Conflict of Interest:
i. Conflict of interest occurs when a person’s private interest interferes with the interest of our company. This situation may arise when a employee actions may have an interest that makes it difficult for him or her to perform company work objectively and effectively. Another conflict may arise when an officer, director, or employee, or a member of their family receives an improper personal benefit from his or her status or position.
ii. All conflicts must be reported to Riordan immediately. No action will be taken unless the Compliance Committee has done their due diligence and found that there was a violation against our policies. Riordan will take action for a violation that is in the best interest of the company and its investors.
B. Standards of Conduct
i. The objective of this plan is to aid in identification and correction of any violation that has been found or reported. To attain this goal, Riordan states that all employees have a duty to report to designated individuals any perceived violation of any policy or procedure. The designated individuals are the Compliance Officer, or the President Dr Michael Riordan. These individuals have been appointed to oversee this plan and ensure all violations are investigated and treated equally no matter what the violation is.
ii. Riordan expects all employee to report such violations freely and feel comfortable doing so. Riordan will ensure all reports are kept confidential and will support the employee who comes forth. To ensure employees have the option to report violation, Riordan has set up a compliance hotline in which employees can report these violations anonymously. This number is (866)-555-1212. The reporter must leave enough information where Riordan can conduct an investigation. No retribution or adverse action will be taken on any employee who chooses to come forward and file a report.
iii. Individuals who fail to follow the rules and regulation of this Compliance Plan, may be subject to dismissal, probation, oral reprimand, criminal charges, and monetary fines. With any questions or comments...