How we govern our corporations plays a central role in the strength and health of our global economy.
Today, there is a growing dialogue among the different stakeholders about corporate governance and how it should evolve to cope with the increasingly dynamic and global nature of our capital markets. This dialogue is taking place against a background of legislative and regulatory change (i.e. the revised Clause 49 and the expected changes in the company law arising from the Dr.J J Irani Committee Report). There has been a significant increase in the scope of audit and other internal control and risk management alongwith increased public scrutiny.
It is only with dialogue and the active participation of all stakeholders that the appropriate balance can be reached between:
The aim of this section is to help inform and stimulate that dialogue.
The corporate scandals of the past few years have had a profound effect on the way companies do business – and on the attitudes of regulators and shareholders. Many important changes have already been made. However, Ernst & Young Chairman and CEO Jim Turley argues that it is essential that global standards on corporate governance converge in the interests of rebuilding investor confidence and ensuring better corporate behavior. This article was first published in Global Agenda (www.globalagendamagazine.com), a publication from the World Economic Forum.
The Independent Director’s Dialogue (IDD), a first-of-its-kind initiative in India, is an exclusive network of Independent Directors. To support the dialogue on Corporate Governance, Ernst & Young has brought together on one platform some of the world's best known professionals on corporate governance. IDD has been constituted to develop practical insights and solutions that enhance the functioning of financial markets and strengthen relationships among leading companies and their directors. The insights from these discussions are documented as ViewPoints. Learn more New Clause 49, RAS - Corporate Take Over