sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 How much tax can you save via tax saving investments, expenditures?
 5 tax saving mistakes millennials need to watch out for Income Tax Saving
 Tax-saving 101 for young earners
 4 important tax benefits of buying a house jointly
 5 best ways to invest and save tax at the last minute Last minute tax saving tips
 Pay your pending advance tax by 15 March
 2018 Tax Extensions: 12 Tips To Save You Money
 5 investment options other than Section 80C to save more Income Tax return filing
 Is it mandatory to link Aadhaar with income tax returns?
 Companies (Incorportation) 2nd Amendment Rule 2019
 Know how your family can help you save tax Filing income tax returns?

Satyam con will have a huge impact on India Inc
January, 09th 2009

The Satyam controversy has come as a rude shock and is going to have a larger impact on India Inc. The roles of independent directors, the external auditing agencies and the regulatory mechanisms will undergo major upheaval.

This was the verdict that emerged at a congregation of human resource and business experts at the three-day Nirma International Conference on Management (NICOM 2009), which started here on Thursday.

Dalit Mirchandani, chairman, Ingersol Rand, India, who was the chief guest, said: The Statutory Audit Committee in every company relies solely on the audit report. It is surprising how a fraud of this magnitude escaped at least three filters.

He elaborated on such frauds being related to issues of corporate governance in India, as the majority of businesses here are family-run. Unless the Indian corporates learn to attract and retain the best of talent, my advice to them is always to exit from business, Mirchandani added.

Endorsing this, Prof Allan Cohen, former Harvard professor and co-founder of the Indian Institute of Management, Ahmedabad, said: The situation in the west is the same. Although on the face of it, the hierarchy may appear neutral, the underlining issues dont differ much.

Another issue that the delegates at the NICOM, which aims for Strategic Human Resource Management and Entrepreneurship in the Changing Business Scenario, discussed was the ailing Small and Medium Enterprises (SMEs) in Gujarat.

Suggesting a three-pronged strategy to tackle such problems, Mirchandani said: All stakeholders in the SME sector must develop a future organisational model for growth; attract and manage human talent; and must learn risk mitigation while enhancing the spirit of entrepreneurship.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions