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CORPORTE COMPLIANCE PLAN FOR WALLMART

CORPORTE COMPLIANCE PLAN FOR WALLMART

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CORPORTE COMPLIANCE PLAN FOR WALLMART:

INTRODUCTION:

This is a detailed plan that seeks to provide means and ways of mitigating or eliminating

potential legal and regulatory risks faced by the organization. They provide mechanisms of the

maintenance of an ethical environment that is free from disputes and tensions on legal

responsibilities of a business. In this regard, Internal Control-Integrated Framework has proven

to be one of the most widely used, accepted frameworks for designing and evaluating systems of

internal control. Additionally, COSO board has updated the framework to make it more relevant

to the stakeholders in today’s business environment.

TORT AND/OR PRODUCT LIABILITY:

This looks at the responsibilities and legal issues with reference to the products offered in the

market. Regulators found in the market encompassing the governmental and non-governmental

organisations, require entities to develop, maintain and report on an effective internal control that

is geared towards maintaining a fair legal and regulatory environment on their products liability.

Torts as well representing wrongs redressable by a court of law for liquidated damages. Torts as

per the Wal-Mart Company would involve the several wrongs attributable to and redressable

through;

Wal-Mart has its own regulatory body that ensures that the laws governing the different bodies of

the enterprise are well complied with and if not it has the mandate of compelling performance.

Product quality and the adherence to terms of service is a crucial aspect in ensuring a successful

business.

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Torts on the product and services pertaining governance has mechanisms put in place in the aim

of attaining products’ goals. It believes that no principles or policies, however strong will

succeed in the business without the people and the firm’s governance believing in it. From this

fact, therefore it has hired on key positions of officer requiring the compliance of organizational

reporting in every market in which the company operates. To combat the risks associated, proper

remuneration policy and a compliance body have been put in place.

Wal-Mart is thus bound to respect intellectual property rights laws on products that it sells. These

are mechanisms which offer an opportunity to develop new ideas and use them for economic

gains. Wal-Mart has stuck to proper corporate licensing of its products as well as seeking licenses

or legally binding permissions from the proprietors of several products. Therefore, through this

Wal-Mart is bound by the law to comply with these standards and regulations to avoid legal

repercussions on this.

DISPUTE RESOLUTION

This assesses the legal means that can be carried by either of the parties may it be Wal-Mart or

any other party that may be sued or may sue. This section offers a way of solving the emerging

disputes in the life if the business. All disputes are solved through legal means by the company’s

legal team.

Wal-Mart is empowered to sue if it feels that its rights, freedoms and entitlements as per the

contract are interfered with. Similarly it can be sued by other agents if it fails to comply with the

terms in the contract thereof. To eliminate this risk, the firm offers an investigation that requires

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CORPORTE COMPLIANCE PLAN FOR WALLMART: INTRODUCTION: This is a detailed plan that seeks to provide means and ways of mitigating or eliminating potential legal and regulatory risks faced by the organization. They provide mechanisms of the maintenance of an ethical environment that is free from disputes and tensions on legal responsibilities of a business. In this regard, Internal Control-Integrated Framework has proven to be one of the most widely used, accepted frameworks for designing and evaluating systems of internal control. Additionally, COSO board has updated the framework to make it more relevant to the stakeholders in today's business environment. TORT AND/OR PRODUCT LIABILITY: This looks at the responsibilities and legal issues with reference to the products offered in the market. Regulators found in the market encompassing the governmental and non-governmental organisations, re ...
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