As the largest democracy in the world enters the final phase of its election fever, and as other significant economies prepare for their upcoming elections, Corporate India is advancing into the season of its annual audit committee & board meetings.


Our Managing Partner, Monish G Chatrath, reflecting on the meetings he attended in April and May 2024, offers insights into the key elements of corporate governance that are becoming a central concern in these forums. The key points of these insights are summarized in the ensuing sections and are elaborated upon in a brief video available at the provided link (CLICK HERE).

1


Enterprise-wide risk management | Businesses are facing economic uncertainties due to factors like geopolitical tensions, trade disputes, elections & market fluctuations.

2


ESG | With existing standards converging & new directives emerging, enhancing transparency and combating greenwashing are imperatives.

3


Regulatory compliances | Staying informed of applicable regulations and adapting proactively to compliance best practices will be crucial for organizations in 2024.

4


Cyber risk mitigation and fraud prevention | As digital threats grow, robust systems for detecting, reporting, and mitigating fraud and cyber theft are essential.

5


Executive compensation | New regulations [e.g. Item 402(x) of Regulation S-K in USA], mandate disclosure of policies on the timing of stock option awards w.r.t. release of material nonpublic information. The goal of such heightened transparency in executive compensation is to promote fairness and to align the incentives of executives with the long-term value for shareholders.

6


Use of generative AI | The rapid rise of generative AI has transformed business models, impacting everything from product development to customer service. Adaptation to AI's role in financial reporting & risk assessment; while integrating it responsibly into governance frameworks will facilitate accuracy, efficiency, and trust. There is also an expectation of new regulations for using AI.

We strive to keep you informed of the latest advancements in pertinent areas via our thought leaderships. Our LinkedIn page (https://www.linkedin.com/company/mgcglobal/) is regularly updated with insightful and knowledgeable content. To stay informed, connect with us on LinkedIn and for any assistance, please do not hesitate to write to contactus@mgcglobal.co.in.


Warm regards,

Markets Team

MGC Global Risk Advisory

About MGC Global Risk Advisory 

Recognized as one of the '10 most promising risk advisory services firms' in 2017, as the 'Company of the Year' in 2018 &, 2019 (both in the category of risk advisory services), one of the 'Top Exceptional Companies to Work For' in 2020, amongst the 'Top 25 Customer Centric Companies' in 2020, 'The Consultant of the year' in 2021 (in the category of risk advisory services), 'Top Exceptional Leaders in Risk Advisory Services' in 2023 and 'Best place to work' in 2024; MGC Global is an independent member firm of Allinial Global.

 

MGC Global provides services in the areas of enterprise-wide risk management, forensic, internal audits, control assessments (SOC, IFCR & SOX), process re-engineering, governance frameworks, privacy & data protection (including GDPR & DPDP), IT risk advisory, GDPR, VAPT, ISO readiness, cyber security, vCISO, accounting advisory, forensic, ESG & CSR services.


Our firm has the capabilities to service its clients through its offices in Bengaluru, Mumbai, NCR; and has service arrangements with associate firms in all major cities in India.

About Allinial Global

Allinial Global (formerly PKF North America) is currently the world's second-largest member-based association. With collective revenues to the tune of approximately US$ 5 billion, Allinial Global has dedicated itself to the success of independent accounting and consulting firms since its founding in 1969. 



It currently has member firms in over 105 countries, who have over 28,000 professional staff and over 6,000 partners operating from nearly 700 offices across the globe.

 

Allinial Global provides its member firms with a broad array of resources and support that benefit both its member firms and their clients in the key impact areas of learning & development, human resources, international outreach, technical support, knowledge-sharing through its specialized communities of practice, information technology and practice management. 

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