Professional Documents
Culture Documents
Corporate Governance hinges on total transparency, integrity and accountability of the management.
Corporate Governance focuses on the internal structure and rules of the board of directors; the rules for disclosure of information to shareholders; and control of the management.
Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. It is a system by which companies run, and the means by which they are responsive to their shareholders, employees, and society. Corporate Governance is also concerned with the ethics, values and morals of a company and its directors.
Even in a competitive environment, the expectations all around are of fair play and effort to excel by ethical means. Corporate Governance caters to this need.
Corporate Reporting
Financial performance (financial statements) Corporate Governance (process by which a company is directed/ controlled) Executive remuneration (how-on what basis) Corporate Responsibility (impact on people, clients, society) Narrative areas (market position, strategy, future prospects etc.)
According to C.G. Committees of various countries, there has to be a section on Corporate Governance in the annual reports of a company.
According to SEBI (Securities and Exchange board of India), the lists to be mentioned in C.G. report are:
A statement on the companys philosophy/motto on code of governance Board of Directors (composition/BoD meetings) Audit Committee (Composition/Meetings/Attendance) Remuneration Committee (policies/names of members/salary of all directors)
Shareholder Committee (name of person in charge/ no. of shareholders complaints received-solved/not) General Body Meetings (Location/time/voting pattern)
The matter published in Corporate Governance Report differs from country to country. But the general motive behind such reporting is common.