The corporate governance principles emphasise an effective corporate boards, prudent internal control, transparency and accountability to its shareholders. Overall, a greater transparency in disclosures is essential for effective boards. They are expected to ensure compliance with the legal framework, integrity of financial accounting and reporting systems as well as credibility in the eyes of the stakeholders through timely disclosures.
With increased shareholder activism and elaborate compliances, companies have been facing allegations of lapse in corporate governance practices wherein SEBI has advised India Inc. to make enhanced disclosures on COVID-19 business impact. In the present times, transparency, disclosure, accountability, issues of sustainability, corporate citizenship, globalisation are some of the concerns that the boards deal with.
Our launch edition of Governance Insight elaborates and discusses key corporate governance disclosures as boards rely on unconventional means of engagements and are relaxed by statutory bodies but not relieved of their obligations as fiduciaries.