Skip to main content

Task Force Emphasises importance of Corporate Social Responsibility

3rd Meeting of Indo-UK Task Force on Corporate Governance Conclude

A two-day meeting of the Indo-UK Task Force on Corporate Governance concluded here today. The Task Force was constituted in 2006 to promote bilateral collaboration between India and UK in areas of mutual interest in corporate matters, including corporate regulation and governance. UK was represented at this 3rd meeting of the Task Force by eight- member British delegation, led by Mr Geoffrey Stanley Dart, Director, Corporate Law and Governance, Department for Business, Enterprise and Regulatory Reform(BERR), Government of UK; while the Indian side was led by Shri Anurag Goel, Secretary, Ministry of Corporate Affairs, Government of India.

The discussions held by the Group covered various areas including the Limited Liability Partnership Bill, Private versus Public Enforcement of Good Governance in context of Shareholder Activism; and Practical aspects of IFRS implementation. The Task Force also discussed sharing of experience on economic crises and the role of various regulatory and professional institutions in meeting emerging challenges. Specific areas of discussions also on increasing Institution-to-Institution and business-to-business contacts between entities in UK and India. UK agreed to share its experiences on functioning of insolvency practitioners, their licensing, and forming joint intelligence committees. Insolvency Practitioners Association(IPA), UK will help the Society of Insolvency Practitioners in India by hand holding, training of trainers, joint projects and sensitization of creditors.

British Airways Club World

The Task Force also emphasized the importance of Corporate Social Responsibility , i.e. CSR, and Corporate Governance in business value creation and sustainability. It was decided to take up a joint Research Project on “CSR as a contributory factor to sound business strategy”. The research will be funded by the Indian Institute of Corporate Affairs(IICA). ICSI and CASS Business School also agreed to work together on research, training and networking on CSR and corporate governance areas. ICSI would organize an international conference in UK in April 2009. Company Secretaries from India would participate and study UK systems and capacity building particularly in context of small and medium practitioners.

In addition to ICSI, ICAI, ICWAI, it was also agreed to expand regulator-to-regulator contact in field of Competition and Insolvency. IICA & NFCG would contribute as think tanks and knowledge managers in various initiatives. In pursuance of B2B contacts between the corporate of the two sides, Networking of Indian and UK firms will be facilitated for sharing of experiences, draw out best practices, improve standards, promote member to member contact.

Source: PIB Website

Sign up, make money displaying Oxado contextual ads!


Do you like to be updated in Accountancy ?

Subscribe to Management Accountant by Email


Or

Subscribe in a reader


SAP Store, UK

If you liked this article, please visit one of the links below. I would appreciate it...

Management Accountant Store, US - Powered by Amazon
Management Accountant Store, UK Stores - Powered by Amazon, UK

You may also like to read
  1. Ethical Decision Making
  2. Ethics on ACCA website 11-Feb-2008
  3. Combined of Corporate Governance UK 20-April-08
  4. 100 Most Influential People in Business Ethics 18-Feb-08
  5. Professional Body 28-April-07
  6. Resistance to Change 26-Apr-08
  7. Business, Customer Value & Management Accounting 19-June-08
  8. Activity Based Management - Dispelling the myths Par I - 13-June-08
  9. How to Share Blog posts with friends 25-May-08
  10. Management Accountant Blog Home




Comments

Popular posts from this blog

Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made.

Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory.


Areas of consequence:
A Standard Costing

Poll : Does CIMA, UK qualification add value

Poll : Does pursuing CIMA, UK qualification add value to a member of ICWAI, India ? Vote on the poll and share your thoughts by commenting the blog.


Poll: Vote here

I feel that if you are a member of ICWAI and you pursue CIMA, UK qualification, you are not adding any value to your skills since you will be learning the same. Once you are qualified, you are still a Cost & Management Accountant but from UK. For an employer, I would still have same skills and training on Management Accounting.

However if you pursue qualification like Company Secretary or CPA or ACCA, your skills are enhanced with the knowledge gained during training and passing of exams. After qualification, you are bound to follow the CPD programs of ICWAI and other institute. In competitive world, employer look for people with multiple skills.

Which one promotes you as professional better against your name:
AICWA, ACMA
or AICWA, ACS
or AICWA, CPA
or AICWA, ACCA

Amazon.co.uk Widgets



Regards,

Santosh Puthran



Do you like to be up…

Resistence to Change - Approaches of Kotter and Schlesinger

The Six (6) Change Approaches of Kotter and Schlesinger is a model to prevent, decrease or minimize resistance to change in organizations.
According to Kotter and Schlesinger (1979), there are four reasons that certain people are resisting change: Parochial self-interest (some people are concerned with the implication of the change for themselves ad how it may effect their own interests, rather than considering the effects for the success of the business)Misunderstanding(communication problems; inadequate information)Low tolerance to change (certain people are very keen on security and stability in their work)Different assessments of the situation (some employees may disagree on the reasons for the change and on the advantages and disadvantages of the change process) Kotter and Schlesinger set out the following six (6) change approaches to deal with this resistance to change: Education and Communication - Where there is a lack…