Mumbai: The 25-member Uday Kotak panel on corporate governance submitted its report to the markets regulator on Thursday. In an interview, Krishnamurthy Subramanian, associate professor of finance, Indian School of Business and a member of the Sebi panel, said that the committee was focused on the three gatekeepers of corporate governance—board, auditors and the regulator. The three gatekeepers, according to the committee are the board, the auditor and the regulator. The nodal body for auditors is the Institute of Chartered Accountants of India (ICAI); we have made proposals to improve their oversight. India has about 5,000 listed companies and the regulator has 780 employees making a ratio of one Sebi officer looking at six listed companies.

Source: Mint October 05, 2017 18:56 UTC