NEED FOR ACCOUNTING STANDARDS
Apart from these issues, there is another area, which needs to be attended to for bringing about further improvements in corporate governance in India. One such area is the introduction of internationally acceptable accounting standards. There are some gaps in accounting standards, which need to be closed or narrowed down for greater transparency.
One of the first and foremost demands of good corporate governance is to let investors know how their money has been used to further the interests of the company they have invested in.
The question that assumes importance in this context is, how effectively the resources of the company are utilized to strengthen the organization. The only available source of information ...
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