Corporate Governance Relevance In Corporate Disclosure And Compliance: A Study of Indian Corporates Practicing Indian AS
Corporate governance is considered as the system and framework in which the operations and functions of the company are controlled and directed. In the current scenario, the stakeholders have become a crucial part of the company. Effective corporate governance of the company in relevance with corporate disclosure and corporate compliance promotes trust among the stakeholders and helps in improving the overall performance of the company. The research design has been formulated to analyse the relevance of corporate governance with corporate disclosure and compliance. The research has been conducted using the qualitative research method by using the secondary source of collecting the data and content analysis for analysing the data. To incorporate the relevance of the research topic in Indian corporates practicing Indian AS, the data of Reliance Industries Limited and Aditya Birla Capital Limited has been taken into consideration. The research has been conducted using the inductive approach and interpretivism philosophy.
The findings of the study indicated that both Reliance industries limited and Aditya Birla group prepares its financial statement in compliance with the Indian Accounting Standards. RIL uses Indian Accounting Standards 110 to formulate the financial statement while Aditya Birla Group prepares its financial statement in compliance with the Indian Accounting Standards under sections 129 and 133 under the Companies Act, 2013. The corporate governance of both companies complies with the SEBI Regulations, 2015. The code of governance of Reliance ensures transparency, accountability and fairness in the process and transactions of the company. RIL incorporates the framework such as IIRC, GRI, SDGs, TCFD and WEF-IBC metrics and universally acceptable accounting standards to disclose the material information of the company to its crucial stakeholders. On the other hand, Aditya Birla Group complies with the guidance of the Advertising Standards Code of India (ASCI), RBI, SEBI and IRDAI.
Corporate governance, accounting standards, corporate disclosure and compliance, accountability
Corporate Governance Relevance In Corporate Disclosure And Compliance: A Study of Indian Corporates Practicing Indian AS. Anita. 2023. IJIRCT, Volume 9, Issue 3. Pages 1-6. https://www.ijirct.org/viewPaper.php?paperId=2306001