Professional Documents
Culture Documents
Chapter 5
Chapter 5
Corporate Governance
Corporate Governance
A System by which corporates are directed & Controlled. Cadbury Committee Corporate Governance as dealing with Procedure, Practices,& Implicit rules that determine a companies ability to take managerial decision Confederation Of Indian Industry (CII)
Applicability:- Private & Public Even applicable for Bank & Financial Institutions Board Of Director:- Executive & Non Executive Director. Non Executive are 30% of Board and one of them is chairman Non Executive are 50% of Board if chairman and Managing Director is same person. Audit Committee:- Shall have access to all financial information. To understand financial reporting process
Remuneration Committee:- Company must have transparent Policy in determining & accounting for remuneration of the director. Accounting Standard for Financial reporting:- Financial reporting in respect to each product segment must available to shareholder. Management :-