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Corporate Governace Ca Seminar
1. Corporate governance “ Leading towards Accomplishments ” By. Pavan Kumar Vijay Past President, The Institute of Company Secretaries of India 02/22/12
2. “ Corporate governance is… … the application of best management practices , compliance of law in letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders” Institute of Company Secretaries of India
7. The stakeholder value chain SUPPLIERS CUSTOMERS HUMAN RESOURCE Supply Funds, Materials and Services Value Addition and Management of Resources Give Opportunity to Co. to Satisfy their Needs Adequate Returns for Funds, Material and Services Supplied Adequate Salary and Security for leading a Happy Life Best Quality Products and Customer Care at Minimum Prices ROLE OF STAKEHOLDERS EXPECTATIONS OF STAKEHOLDERS Potential Suppliers, Human Resources and Customers Biological, Economic and Cultural Environment PUBLIC PUBLIC EXPECTS PARTNERHIP FOR SUSTAINABLE DEVELOPMENT
9. A Case Study on Corporate Governance - Examples from India vs
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12. And That’s what makes Infosys A value driven organization and resuts into greater valuation and overlall benefits 25.6 A Comparison of Infosys in IT Industry with their P/E multiple
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15. Capacity, Knowledge and Resources Maximization of stakeholders’ value and well-being and progress of humankind TOWARDS THROUGH Transparency, accountability and truthful disclosure of state of affairs Righteousness Truth Corporate are also expected to use their
52. PSU’s & CSR The guidelines to PSU provides Such investment to be in project based & mere donation to charity and philanthropic activity would not be included in this . Expenditure related to staff excluded Net profit CSR Amount less than US$ 22.5 million (100 crores) 3-5 per cent of profit between US$ 22.5 million - US$ 112.5 million(100 – 500 crores) 2-3 per cent over US$ 112.5 million (500 crores) 0.5-2 per cent of net profits
53. The Corporate Failures Company Country What went wrong Ahold NL earnings overstated Enron USA inflated earnings, hid debt in SPEs Parmalat Italy false transactions recorded Tyco USA looting by CEO, improper share deals, evidence of tampering and falsifying business records WorldCom USA expenses booked as capital expenditure Xerox USA accelerated revenue recognition Satyam India Board failure, accounts falsification Lehman Brothers USA Failure of Board, management & regulator
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55. Failure of Corporate Governance - Impact & Preparation Impact Preparation Loss of Investor Trust India Inc. Caution and initiation of steps towards good governance Failure of trust on intermediaries such as Statutory Auditors, Internal Auditors, Secretarial Auditors etc. Effective information dissemination Overall loss of the economy through market loss Activated role of the regulator
56. Outstanding Performance, Higher Profits, Expanded Market Reach and the like FAILS to protect a company which has put good governance & ethics at the back burner…. History is Witness D I S A S T E R
57. Secret behind building foundations ..…Only the culture of strict adherence to good compliance can keep a company ahead on sustainable basis , bring in larger profits!!! S U C C E S S
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Editor's Notes
Ladies and Gentlemen Corporate Governance rests with the Vision and Perception of the Corporate Leadership
and The ICSI has adopted a Vision for Corporate Governance itself
Ladies and Gentlemen Commitment to well-being and progress of all stakeholders is our age old mantra
Ladies and Gentlemen Companies that have won ICSI National Award for Excellence in Corporate Governance have
Consistently earned high returns, increased their net worth and enhanced their shareholders wealth
Invested significantly in proactive research and development
Developed people into ‘achievers’ than just ‘performers’
Dealt ethically with customers, government and business partners
Maintained and updated their professional management culture, system and processes
..and accomplished
Growing Investors Winning Employees Delighted Customers Trusted Suppliers Satisfied Government And Regulators Happy Society That is Excellence, which everyone aspires for and that leads to National Growth
Corporate Governance is not a buzzword, there are so many advantages of applying good corporate governance practices
Companies get Widespread Goodwill and Brand Reputation, resulting into Widening Customer Base Ready Market for New Products Access to Global Markets, and Better Access to Human Capital
and Enhanced Trust and Confidence of all Stakeholders INVESTORS EMPLOYEES CUSTOMERS SUPPLIERS GOVERNMENT AND REGULATORS, and SOCIETY at large
