ACCOUNTS AND AUDITS
According to the committee, ‘Proper and accurate compilation of financial information of a corporate and its disclosure in a manner that is standardized and understood by stakeholders is central to the credibility of the corporates and soundness of investment decisions by the investors. The preparation of financial information and its audit, therefore, needs to be regulated through law with stringent penalties for non-observance’. The committee took note of the contributions made by the Institute of Chartered Accountants of India and the National Advisory Committee on Accounting Standards and favoured the continuance of the existing institutional mechanism for formulating and notifying Accounting Standards.
Get Business Ethics and Corporate Governance, Second Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
