By: Abhay Tulsian (Student Registration No: SRO 0350545) Audit Executive P. N. Raghavendra Rao & Co., Coimbatore Phone: 7305802475 Email: firstname.lastname@example.org
The paper is an earnest effort to uncover the issue of Challenges in Corporate Governance and recommendation to overcome the challenges there off, its legal framework, its current status and how accounting may be practiced to protect corporate from corruption by establishing governance. With recent high-profile corporate governance failures in developed countries have brought the subject to media attention, the issue has always been central to finance and economics. Recent research has established that financial development is largely dependent on investor protection in a country – de jure and de facto. Good corporate governance (GCG) is a mandatory requirement in today‘s corporate world. The objective of any corporate governance system is to simultaneously improve corporate performance and accountability as a means of attracting financial and human resources on the best possible terms and of preventing corporate failure. In short Corporate Governance is about promoting corporate fairness, transparency and accountability. Failure of giant corporate groups in last two-three decade strengthens the demand further. India has one of the best corporate governance laws but poor implementation together with socialistic policies of the pre-reform era has affected corporate governance.
Keywords: Corporate governance, Compliance, Challenges, Corporations, Stakeholders, Investors. Corporate Governance Challenges _ Page 1 of 13
WHAT IS CORPORATE GOVERNANCE ?
Corporate Governance in its most simplified iteration refers to the manner in which corporate bodies are managed and operated. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporates and specifies the rules and procedures for making...