The government plans to review the auditing standards as it looks to tighten the norms governing auditors, a senior official has said amid rising instances of corporate misdoings. The Corporate Affairs ministry, which is implementing the companies law, is working on ways to bolster the overall corporate governance framework Lately, some examining substances just as reviewers have gone under the administrative focal point regarding asserted mistakes at organizations just as for stopping review work of corporate on different grounds. Corporate…...
Enhanced Financial Disclosure. This requires the top management to ensure and confirm that their firm’s financial reports are absolute and precise. That is making CEO’s and CFO’s accountable. Whistle-blower protection. This act provides protection to those people who disclose cases of fraud that has occurred in a company. (Fraedrich, 2008) Fifth, corporate and criminal fraud accountability. This act helps auditors in an organization to detect fraud and those responsible should account for any misuse of the company’s resources. As for…...
BusinessCorporate Governance In IndiaFinanceManagementPolicy
Corporate governance is defined as the system by which business entities are monitored, managed and controlled. Corporate governance practices have become an essential prerequisite for the ability to acquire and retain financial resources necessary for restructuring long term investment and sustainable growth. At one end of the spectrum the shareholders are the owners of business entity as they are risk takers. At the other end the managers or the executive director of the company who are in control of its…...
Corporate governanceCorporate Governance In IndiaIndia
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Government of India Act, 1935: The Government of India Act, 1935 was formulated after long deliberations but was not fully promulgated but the only provincial part was introduced in the country, the central part was not introduced. The British govt deliberated on it and then the British parliament passed this law and then the king signed this law and this became the govt of India Act of 1935, under which the elections of 1937 would be held elections were held.…...
Corporate Governance In IndiaGovernmentIndiaPolitics
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