CII sets up task force on corporate governance

In the days following the Satyam fraud shaking up India Inc and threatening to leave behind scars on the reputation of domestic corporate sector, CII has set up a special task force on corporate governance.

Written by Corporate Bureau

January 13, 2009 22:59 IST

The special task force, to be headed by former US Ambassador Naresh Chandra was formed to look at all aspects of corporate governance issues. The task force would look at various issues that have emerged out of the Satyam episode, and subsequently put forth its recommendations, CII said in the statement. The National Council of CII met in Ahmedabad on Monday where the issue of corporate governance was discussed in detail in the context of the events surrounding Satyam, added the statement. The CII initiave follows a series of seminar that the industry chamber held to discuss different dimensions of corporate governance.

In a white paper, ?Transition to IFRS: A Governance Perspective?, jointly released by CII and a consultancy firm, the chamber called for convergence of auditing norms and making a transition to the International Financial Reporting Standards regime.

This article was first uploaded on January thirteen, twenty nine, at fifty-nine minutes past ten in the night.