This article highlights the material disclosures in Indian Corporate Governance and the Whistle-Blowing Exercise in India under Clause 49 and Whistle-Blowing Exercise in US under SOX Act, 2002. Corporate governance and its growing concerns have been well addressed by various authorities internationally, with all sincerity and seriousness.
There have been numerous committee reports on corporate governance covering a wide range of issues such as principles and code of best practices, role and effectiveness of non-executive directors, securities regulation and assessment, standards on accounting and auditing, banking supervision, financial aspects of governance, institutional responsibilities, effectiveness of audit committee, expectation gap, internal control systems, etc. Though each report has focused on different dimensions of the issue, the central theme remains that all these reports exalt the corporate towards positively aiming and achieving the maximization of stakeholders' value. |
