Corporate Governance

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The state of corporate governance
in India
- A Poll

This poll “The State of Corporate Governance in India: 2008” is an initiative of KPMG in India’s Audit Committee Institute. The poll, conducted between late November 2008 to early January 2009, involved over 90 respondents comprising CEOs, CFOs, independent directors and similar leaders, who were asked about the journey, experience and the outlook for corporate governance in India. The respondents (page 19) are predominantly from private equity firms, financial services and the manufacturing sector. Good corporate governance helps an organization achieve several objectives and some of the more important ones include:

• Developing appropriate strategies that result in the achievement of stakeholder objectives • Attracting, motivating and retaining talent
• Creating a secure and prosperous operating environment and improving operational performance • Managing and mitigating risk and protecting and enhancing the company’s reputation. Some aspects covered in the poll include:

• Corporate governance regulations in India
• Corporate governance concerns in India and role of independent directors and audit committees in addressing these concerns
• Board practices, board oversight of risk management and the importance given to integrity and ethical values
• Practices that are fundamental to improved corporate governance. The results, which are augmented by comment from KPMG in India’s Audit Committee Institute, also provide a useful contribution to the debate on how Indian companies can improve standards of corporate behavior which do justice to the spirit behind the rules.

We would like to thank all the respondents for taking time to participate in the poll. About this poll
Richard Rekhy
Chief Operating Officer and
Head - Advisory
Neville Dumasia
Executive Director and
Head - Governance, Risk and Compliance Services
© 2009 KPMG, an Indian Partnership and a...
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