Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: TDS :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: empanelment
 
 
News Headlines »
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter

Imperative to have independent auditors
July, 27th 2006

Capitalism at crossroads. Corporate misgovernance in India. Series of scams that shook investor confidence...

With these startling sections begins chapter 1 of Corporate Governance: Principles, Policies and Practices, by A.C. Fernando, from Pearson Education (www.pearsoned.co.in). "The corporate governance movement in India began in 1997 with a voluntary code framed by the CII (Confederation of Indian Industry). In the next three years, almost 30 large listed companies accounting for over 25 per cent of India's market capitalisation voluntarily adopted the CII code," notes the author.

The book is divided into four parts. The first, on `understanding corporate governance' discusses the underlying theory and landmarks such as the initiatives by the World Bank, the OECD, SEBI and so on. Committees headed by Naresh Chandra, Narayana Murthy and J.J. Irani are significant milestones in the evolution of corporate governance.

Part two is about `agents and institutions', where you'd read about the rights and privileges of shareholders, board of directors, auditors, banks and so on. Fernando has concluded many chapters with case studies that look at real companies. If Indian companies want to be globally competitive in the new millennium, then good governance is an utmost necessity, urges Fernando in the final chapter. "The first requirement of corporate governance is professional management. Even in family-owned companies, where family members often hold the highest offices in companies, it is imperative that such family members are professionally qualified and competent for the office they hold," he says.

Among `current issues' is a paragraph on CRT (Caux Round Table). It is `an international network of principled business leaders working to promote a moral capitalism' founded in 1986 by Frederick Phillips and Oliver Giscard d'Estaing, `as a means of reducing escalating trade tensions'.

CRT lays emphasis on job creation, sustainable practices, trust, and transparency. Importantly, it believes that solutions to complex global issues require the cooperative efforts of business, government and other institutions. "The partnership developed in many cities where business collaborate with local authorities, central government, education, emergency services and special interest groups could be adapted to global initiatives."

The book wraps up on a bitter note about the lack of independent auditors. "It is imperative to have independent auditors who are reputed and above board. Due to the distrust in Indian auditors, most of the multinational companies have insisted that the parent company's auditor should also audit the subsidiary companies in India, often at much higher costs," rues the author.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions