Corporate Governance Forums

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Corporate Governance Forums
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• Corporate Governance ensures that the business of
  a firm is conducted in an ethical manner in
  compliance with the laws, rules and regulations
  and the industry best practices. A companys
  corporate governance is important to investors
  since it shows a companys direction and business
  integrity. Good corporate governance helps
  companies build trust with investors and the
  community. STRUCTURE OF CORPORATE GOVERNANCE IN
  INDIA The Companies Acts 2013 SEBI (Securities
  and Exchange Board of India) Guidelines
  Accounting Standards issued by the ICAI Standard
  Listing Agreement of Stock Exchanges Secretarial
  Standards Issued by the ICSI Other Legislations,
  The Competition Act 2002 the Foreign Exchange
  Management Act,1999 the Industries (Development
  and Regulation) Act, 1951 other legislations
  Thus, taking the cognizance of the fact of
  protecting the interests of stakeholders of
  business organisation as well as to ensure
  sustainability and growth of business
  organisations, world over various forums came
  into existence, such as National Foundation for
  Corporate Governance, Organisation for Economic
  Cooperation and Development (OECD), International
  Corporate Governance Network (ICGN) etc.

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• INSTITUTE OF COMPANY SECRETARIES OF INDIA (ICSI)
  ICSIs Philosophy on Corporate Governance
  Corporate Governance as the application of best
  management practices, compliance of law in letter
  and spirit and adherence to ethical standards for
  effective management and distribution of wealth
  and discharge of social responsibility for
  sustainable development of all stakeholders. ICSI
  Initiatives-
• Corporate Governance Research and Training and
  Centre of Excellence, Hyderabad.
• ICSI National Award for Excellence in Corporate
  Governance.
• Focus on Corporate Governance in the Course
  Curriculum.
• PMQ Course in Corporate Governance.
• Secretarial Standards.
• Corporate Governance Publications.
• Directors Development and Capacity Building
  Programmes.
• Investor Education and Awareness.
• ICSI Recommendations to Strengthen Corporate
  Governance Framework.
• National Policy on Corporate Governance.
• Customised Training Programme.
• Founder Trustee of National Foundation for
  Corporate Governance.

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• 2.NATIONAL FOUNDATION CORPORATE GOVERNANCE (NFCG)
  NFCG endeavours to build capabilities in the area
  of research in corporate governance and to
  disseminate quality and timely information to
  concerned stakeholders.
• Objectives of NFCG
• To catalyse capacity building in new emerging
  areas of Corporate Governance.
• To further research, scholarship, and education
  in corporate governance in India.
• To foster a culture of good governance, voluntary
  compliance and facilitate effective participation
  of different stakeholders.
• To create a framework of best practices,
  structure, processes and ethics.
• Governance Structure
• The internal governance structure of NFCG
  consists
• Governing Council
• Board of Trustees
• Executive Directorate

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• 3. ORGANIZATION FOR ECONOMIC CO- OPERATION AND
  DEVELOPMENT (OECD)
• The Organisation for Economic Co-operation and
  Development (OECD) was established on 30th
  September 1961. The OECD was one of the first non
  government organizations to spell out the
  principles that should govern corporates. OECD
  Corporate Governance Principles are divided in
  six different chapters, which are
• Ensuring the basis for an effective corporate
  governance framework
• The rights and equitable treatment of
  shareholders and key ownership functions
• Institutional investors, stock markets, and other
  intermediaries.
• The role of stakeholders in corporate governance
  Disclosure and transparency.
• The responsibilities of the board Disclosure and
  transparency
• The responsibilities of the board
• 4. THE INSTITUTE OF DIRECTORS (loD), UK
• The IoD is a non-party-political business
  organisation established in United Kingdom in
  1903. The loD seeks to provide an environment
  conducive to business success.
• It acts as a unitary board and has the following
  powers and responsibilities
• to manage the affairs and long-term success of
  the institute.
• to approve the strategy of the institute,
• to approve the annual report and accounts
• to appoint, reappoint and remove the director
  general
• to ensure open and transparent engagement with
  all stakeholders when carrying out its duties.

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• 5. INTERNATIONAL CORPORATE GOVERNANCE NETWORK
  (ICGN)
• ICGNs mission is to promote effective standards
  of corporate governance and investor stewardship
  to advance efficient markets and sustainable
  economies world-wide. It has four primary
  purposes-
• to provide an investor-led network for the
  exchange of views and information about corporate
  governance issues internationally
• to examine corporate governance principles and
  practices
• to develop and encourage adherence
• to corporate governance guidelines
• and standards to generally promote good
  corporate governance.
•  ICGN Global Corporate Governance Principles are
  
• Principle 1 Board role and responsibilities.
• Principle 2 Leadership and independence.
• Principle 3 Composition and appointment.
• Principle 4 Corporate culture
• Principle 5 Risk oversight. Principle
• 6 Remuneration. Principle
• 7 Reporting and audit. Principle
• 8 Shareholder rights

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• 6. ASIAN CORPORATE GOVERNANCE ASSOCIATION (ACGA)
• The Asian  Corporate Governance Association
  (ACCA) is an independent profit membership
  organisation dedicated to working with investors
  companies and regulators in the implementation of
  effective corporate governance practices
  throughout Asia .
• (1) Research Tracking corporate governance
  developments across 11 markets in Asia and
  producing independent analysis of new laws and
  regulations, investor activism and corporate
  practices.
• (2) Advocacy Engaging in a constructive dialogue
  with financial regulators, stock exchanges,
  institutional investors and the implementation of
  better corporate governance practices in Asia.
• (3) Education Organizing conferences and seminars
  that foster a deeper understanding of the
  competitive benefits of sound corporate
  governance.

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• 7. CORPORATE SECRETARIES INTERNATIONAL
  ASSOCIATION LIMITED (CSIA)
• Corporate Secretaries International Association
  Limited (CSA) was established on February 10,
  2017 as a Company limited by Guarantee in Hong
  Kong. CSIA is governed by a council consisting of
  the honorary members (President, Vice-President,
  Secretary and Treasurer as elected from the
  member bodies), past presidents, co-opted members
  and representatives of each national member
  organisation.
• Objectives
• To promote the professional status of suitably
  qualified chartered secretaries, Corporate
  Secretaries, Company Secretaries, board
  secretaries and other governance professionals.
• 2. To establish and maintain good relations and
  exchanges between organisations dedicated to the
  promotion and practice of secretaryship and/or
  the promotion of good governance.
• 3. To develop and improve their services and
  professionalism of their members.
• 4. To assist in the creation of such
  organisations in countries or regions in which
  they do not currently exist.
• 5. To promote the growth, development, study and
  practice of secretaryship and assist their
  members develop and improve their services and
  professional standards.
• 6. To advocate for good governance through
  carrying out research developing standards and
  raising awareness.
• Tags Companies Act, Companies Act 2013,
  corporate governance
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