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Corporate Compliance Report Mba 560

Corporate Compliance Report: Emissions Technology
Shane Bennee
University of Phoenix

Introduction
This paper outlines a plan with a new and developing company called Emissions Technology (ETI). This plan helps to identify a risk management plan tailored to ETI’s needs. This plan, if implemented, will introduce an Enterprise Risk Management (ERM) explanation and governance framework arrangement for ETI. This ERM will have an integrated framework of internal control as outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This report may help ETI establish an effective ERM system that identifies and addresses fraudulent financial reporting and make proposals to reduce fraudulent incidences in preparation for the company to go public.
Emissions Technology Background
“Emissions Technology, Inc. is an industry-leading manufacturer of Combustion Catalyst Systems designed to make legacy (older, non compliant) diesel equipment regulatory compliant” (ETI, 2008). Installment of the product onto diesel vehicles reduces harmful pollutants and simultaneously increases power output.
The president of the company is Todd Peters who directs the affairs of the company. The board is comprised of five individuals who “maintain corporate oversight and fiduciary responsibility” (ETI, 2008). They comprise the Chairman of the board, and four outside directors with skills that range from corporate legal dealings to aiding new companies into rapid growth and going public. Senior management besides the president include: Vice President of Technology (specializes in chemistry with senior experience in technical operations), Director of Technical Services (Field Test Engineer and Engineering managerial background), Director of Operations (experience in operations management with expertise in purchasing and inventory controls).
Stakeholders’ Perspectives
The corporate stakeholders of ETI are the “primary customers of the governance process”...