An Overview of Corporate Governance in India

The concern for effective governance of the corporate world has been intensified due to the types of impact that the financial frauds create on all the segments of society concerned, more directly in the form of capital invested, loss of employment to thousands of people right from the CEOs to the rung worker, reduction in the confidence levels of the investing public in corporate enterprise, reinstatement of corporate profit figures for the last few years by the companies involved, all resulting in low levels of economic activity at the macro level, throwing nations into some types of a recession. As a consequence of the financial frauds in the corporate world, in which accounting firms of international repute have played a prominent role, the credibility of the accounting profession all over the world is, presently, at stake. The professional Institutes of Accountants in different countries have started addressing themselves regarding the restoration of respect, trust and confidence of the investing public in the accounting and auditing profession. Against this background, the paper aims to examine the overview of Corporate Governance in India.