2. CORPORATE GOVERNANCE
IN THE EYE OF KAUTILYA
•
Kautilya’s view regarding governing a
monarchy is equally applicable in
successfully running a corporate sector in
modern business context.
Strict Corporate Governance can win the
confidence of;
Government ,employees, customers &
other stakeholders
8. SETTING UP THE INDEPENDENT
QUALITY REVIEW BOARD
There should be established, with
appropriate
legislative
support,
three
independent Quality Review Boards (QRB),
one each for the ICAI, the ICSI and ICWAI, to
periodically examine and review the quality of
audit, secretarial and cost accounting firms,
and pass judgement and comments on the
quality
and
sufficiency
of
systems,
infrastructure and practices.
9. PROPOSED DISCIPLINARY MECHANISM FOR THE
AUDITORS:
Dealing with the complaint cases
Disciplinary committee framed by ICAI
Publication of the punishment awarded
Funding
11. DEFINATION
• Free from business or any
other relationship with co.
PERECENTAGE
• 50% of directors have to
be independent directors
BOARD SIZE
• In all the listed & unlisted
co.s 4 out of 7 have to be
independent directors