Presentation on theme: "Earth provides enough to satisfy every man's need, but not every man's greed. – Mahatma Gandhi Values, Sustainability, Consciousness – walking the talk."— Presentation transcript:
Earth provides enough to satisfy every man's need, but not every man's greed. – Mahatma Gandhi Values, Sustainability, Consciousness – walking the talk Amita V. Joseph BCF
Context in India Corruption Index India 94 out of 177 countries by Transparency International Ease of doing business in India 134 out of 189 economies ( Singapore number 1) by WB Weak regulatory environment Growth of crony capitalism 24 7 media & RTI Community & civil society activism
SEBI Committee on CG in 2003 Corporate Governance is about ethical conduct in Business. Ethics is a code of values and principles that enables a person to choose between the right and the wrong and therefore select from alternative courses of action. Managers make decisions based on a set of principles influenced by value, context, culture. Narayana Murty
Dimensions of Reporting in India Accounting evidence ( reports) Inclusion Reporting ? Sustainability GRI reports Governance Annual reports Impact on Community ?
New Companies Act, 2013 Will the new companies Act be a game changer? Focus on role of board and Directors Role of Auditor Whistle blower protection Class Action Suits Definition of Fraud CSR Section 134 and 135 and Reporting.
Gross National Happiness - Bhutan The four pillars are Good Governance Sustainable socio economic development Cultural preservation Environmental Conservation Dalai Lama about Universal Responsibility Aurobindo Management by Consciousness
Gandhiji on Trusteeship Suppose I have earned a fair amount of wealth either by way of legacy or by means of trade and industry. I must know that all that belongs to me is the right to an honorable livelihood no better than what is enjoyed by million of others, the rest of my wealth belongs to the community and is to be used for the welfare of the community Trusteeship provides a means of transforming the present capitalist order of society into an egalitarian one. It gives no quarter to capitalism.