Corporate Compliance Report

Essay by tpurifoyUniversity, Master'sA, June 2009

download word file, 7 pages 3.0

�PAGE � �PAGE �1� Corporate Compliance


Corporate Compliance Report

University of Phoenix

MBA/560: Enterprise Risk

November 7, 2007

Week 6



Internal control is an essential part of an organization. Without it, the company can face many risks and liabilities associated with lack of control. This paper attempts to provide a implement an enterprise risk management plan for First Data Corporation (FDC). Through research, the writer will point out preventive, detective, and corrective internal controls for FDC. Based on the research and current environment of First Data, a recommended solution will be made which will improve the overall risk management level and control process in the company.


Corporate Compliance Report

Since the implementation of the Sarbanes Oxley Act of 2002, many companies have tried to clean up their act as it relates to compliance. Although the Act brings accountability to publicly held companies, there is still opportunity for growth.

In this paper, the writer will discuss a plan to implement enterprise risk management based on the Committee of Sponsoring Organizations of the Treadway Commission (COSO). An organization will be selected for the compliance report, followed by preventative, detective, and corrective internal controls for the organization. Lastly, a recommendation for a preventative solution that incorporates risk mitigation for the organization will be stated.

First Data Corporation

First Data Corporation (FDC) is the selected organization for the compliance report. FDC first went public in 1992 (First Data Corporation, 2007). "Today, First Data provides payment processing services to the world's largest financial services providers, to the merchant around the corner, and to businesses and governments of all sizes in between" (First Data Corporation, 2007, para. 6). As a company, they have strived to uphold the highest ethical values, while safeguarding consumer information. A large part...