Corporate Governance is often looked upon as a means to measure how well companies are attuned to earn stakeholders’ confidence in the governance of the organisations. Good Corporate Governance plays a vital role in long term sustainability and underpinning the integrity and efficiency of financial markets. Thus, strong Corporate Governance is indispensable to resilient and vibrant capital markets and investor protection rests on this foundation.
Investors use Corporate Governance as an indicator to judge the quality of a company’s management and the effectiveness of its Board of Directors. The aim of Corporate Governance as often understood is to ensure that companies that are not managed by their owners are run in the best interest of the shareholders. It is now widely accepted by companies that sound principles of governance are a necessary tool for their long-term development and sustainability.
Indian Chamber of Commerce endeavours to focus towards creating a sustainable model both for industry and society through inclusion, empowerment and development of human resource. To further disseminate information on the various dimensions for effective Corporate Governance, ICC has been organising events on Corporate Governance in partnership with National Foundation for Corporate Governance (NFCG) to inculcate awareness about the concept of Corporate Governance amongst the stakeholders in general.
NFCG was set up in the year 2003 by the Ministry of Corporate Affairs (MCA), in partnership with Confederation of Indian Industry (CII), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI) to promote good Corporate Governance practices both at the level of individual corporate and Industry as a whole. In the year 2010, Institute of Cost Accountants of India (ICAI) and National Stock Exchange (NSE) and in 2013 Indian Institute of Corporate Affairs (IICA) were included in NFCG as Trustees.
For further information on NFCG, please click here: www.nfcg.in