Corporate Compliance Benchmarking

6020 words, 25 pages

Intro Sample...

Corporate Compliance Benchmarking
The companies that were researched in this paper are facing corporate compliance issues similar to CareNetWest. Those companies must identify the compliance and governance issues and identify the best alternatives for solving them. The companies then must identify the situations and develop the opportunities the will appease and fix issues. These companies will then have come up with steps to implement the steps to adhering to governing compliance. Then, the companies have to determine the solutions in which the companies will develop a Corporate Compliance and Governance committees.

Group Analysis
CareNetWest Companies, Inc., a fairly new public healthcare company, must deal with a... View More »

Body Sample...

These groups consist of board of directors, subcommittees of the board, auditors and other committees. These committees develop compensation programs for the managers that the stakeholders agrees with which is called internal governance mechanism (Chew, et al, 2005).
The company develops committees which allow the company to meet the requirements of the stakeholders. The shareholders have a better way of watching their company’s management team with the rules that changed. In 1980 a shareholder had to file a detailed proxy statement with the SEC (Securities and Exchange Commission) before they talked to other stakeholders. Knowing the rule has changed and the stakeholders can talk to each other without filing a detailed report but they have to document the communication and send it to the SEC. Another thing that has changed since the 1980s is that the number of has increased which gives the company m money that is invested in a company (Chew, et al, 2005).
The CareNetWest needs to develop committees that allow the stakeholders and managers communicate efficiently. Then the company will have to develop a position for a risk manager and allow the risk manager to communicate with the shareholders and the managers of the company. The communication of all these parties needs to stay strong. The company needs to market their company which will allow more investors and increase the budget of the company (University of Phoenix, 2006).
The Sarbanes-Oxley Act (SOX) was passed in 2002 and is a United States Federal law. It controls changes in corporate governance that affect ...

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