Leaders, officials advocate corporate governance

NEW DELHI: Senior corporate leaders and government officials have advocated corporate governanace and said measures should be taken to increase transparency in all levels including board rooms.
At a seminar organised by FICCI on corporate governance, Madhav Mehra, president, World Council for Corporate Governance, the increasing capability for serious disasters means that companies that lie are equivalent of Bin Laden’s terrorists thriving in our midst.
“It is curious that each time we are confronted with market collapse, our immediate response is to seek new rules and revise old codes. Little do we realise that corpoarte discipline is not something that can be achived simply by revising codes or adding new ones,’’ he added.
He said there needs to be a stricter monitoring and enforcement of laws on punishment for corporate scams to ensure that those who violate the public trust do not go scot free.
A greater accountability from a clerk to a CEO is required.