principle of corporate_governance

May 29th, 2015
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It includes appointing non-executive directors, placing constraints on management power and ownership concentration, as well as ensuring proper disclosure of financial information and executive compensation.

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Corporate governance Define:- corporate governance is about promoting corporate fairness, transparency and accountability.It can also be defined as " the formal system of accountability and control for ethical and socially responsible organizational decisions and use of resources"Accountability relates to how well the content of workplace decisions is aligned with the organization's stated strategic direction.Control involves the process of auditing and improving organizational decisions and actions.It is concerned with structures and processes for decision making, accountability, control and behavior at the top level of organizations. It influences how the objectives of an organization are set and achieved, how risk is monitored and assessed and how performance is optimized.The core objectives of corporate governance are focus, predictability, transparency, participation, accountability, efficiency & effectiveness and stakeholder satisfaction.Corporate governance measures:It includes appointing non-executive directors, placing constraints on management power and ownership concentration, as well as ensuring proper disclosure of financial information and executive compensation.Indian companies are required to comply with clause 49 of the listing agreement primarily focusing on following areas:Board composition and procedureAudit committee responsibilitiesSubsidiary companiesRisk managementCEO/CFO certification of financial statements and internal controls

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