The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
January - 2011 - issue > In Focus
Indian Companies Adapting Best Global Practices
ST Team
“Good governance at companies usually translates into good financial numbers while just having good names on the (firms’) board need not ensure the same,” he said. It was the `14,000 crore accounting fraud of Satyam by its founder-chairman Ramalinga Raju that brought the issue of corporate governance into sharp focus in India. Wagner pointed out that regulations, especially those associated to corporate governance, should be framed after taking into account the view points of all market participants. He also suggested that there should be an annual evaluation process in place to assess the effectiveness of the board as well as the corporate governance in companies.
“Entities should anticipate and be more prepared to tackle risks and shocks, mainly since the world is getting more interconnected that is also resulting in connectivity of shocks,” Wagner said while talking about the change in taking and managing risk by the companies in the recent years.
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