Corporate governance - a tool for effective financial reporting & control

Abstract

The article examines the emergence of the concept corporate governance through a historical discussion. It briefly describes the emergence of certain global institutions enunciating the basic principles of good Corporate Governance. It discusses the role of Four main authorities involved in corporate governance in India. A critical evaluation of different corporate governance measures has also been done. It finally concludes that proper implementation of the code of corporate governance requires a judicious mix of stakeholders' vigilance, effective legislative measures, positive institutional support and self-regulation by the professional accountants and the top managerial personnel involved in this process.