corporate governance
Ready with CCI norms for M&A: Govt
By admin at 9 March, 2010, 10:14 am
The government today said it is ready with the regulations to give teeth to the competition watchdog CCI for examining mergers and acquisitions and would notify it once the Commission develops expertise in tackling such cases.
“A lot of capacity building is still required (in the CCI)…If we notify it (merger norms) today, you know we [...]
India needs new banks
By admin at 4 March, 2010, 10:47 am
The government and the RBI are completely off the track, if they indeed plan, as reported, to restrict new banking licensees to rural areas and no-frills accounts for the first couple of years. This is no way to go about achieving financial inclusion. Making new banks waste capital doing things that established banks have not [...]
Read More >>What makes corporate governance work
By admin at 24 February, 2010, 11:47 am
The main purpose of corporate governance should be for maximising the benefits of stakeholders without making any compromise on the ethical values attached to it, said Lakshmi Narayanan, Founder and Vice-Chairman, Cognizant.
Speaking at the 3rd national corporate governance conference, organized by the Loyola Institute of Business Administration (LIBA), a premier business institute in India, in [...]
Corporate governance norms should be applicable to other sectors
By admin at 22 February, 2010, 10:13 am
The existing corporate governance norms and structures are good and need no major overhaul, but some fine tuning may be required to make them applicable to unlisted and small and medium enterprises, speakers at a seminar said here Saturday.
The speakers also felt that growth and prosperity of a nation depends on the character of its [...]
Whistle-blower policy the best way to check frauds
By admin at 22 February, 2010, 10:10 am
As corporate India debates ways and means to strengthen the corporate governance framework for the listed companies, post the Satyam scandal, an international expert says a whistle blower policy is the best way to prevent corporate frauds from blowing up. The rider: it should be implemented in spirit, and not just in form.
“Whistle blower [...]
Corporate fraud: Should IT systems be blamed?
By admin at 17 February, 2010, 1:46 pm
It’s merely over a year, since the multi-core Satyam scam hit the India’s IT industry and raised the key issues of corporate governance and finance.
And now another fraud has just surfaced at Wipro involving its own employee, who is alleged of embezzling about four million dollars from the company’s bank account by stealing password and [...]
Big four’s ‘promos’ may come under ICAI scanner
By admin at 17 February, 2010, 9:37 am
Big four watch out. The audit profession regulator, the Institute of Chartered Accountants of India (ICAI), plans to delve into some of the surrogate advertising practices of international firms with presence in India.
In particular, awards given by them for entrepreneurial excellence and the promotions for such events are likely to come under the ICAI scanner, [...]
New dawn in corporate governance
By admin at 16 February, 2010, 11:06 am
Corporate India for the first time is bracing up for the Big Four. There are four major regulatory changes happening over the next 18 months, which are going to affect the way corporate India is structured, functions and is governed. They are IFRS, GST, direct tax code and the Companies Bill.
This is a time for [...]
Internal audit needs to be redefined
By admin at 1 February, 2010, 9:49 pm
The internal audit function is headed for a fundamental change in the coming years. This change will affect the way in which it is conducted and will have implications for the various stakeholders of the company. So far, almost everybody has associated internal audit with a separate department within the company that monitors its transactions [...]
Read More >>Centre mulls whistle-blower policy in all PSUs
By admin at 27 January, 2010, 2:21 pm
The government wants all public sector enterprises (PSEs) to put in place a whistle-blower policy, as it seeks to improve their corporate governance standards ahead of possible listing on the stock exchanges. At present, only few PSUs, such ONGC and GAIL, have a policy to encourage employees to expose wrong-doing in their companies.
“To bring PSUs [...]