Corporate governance in India: Evolution and challenges Dr. Sharma Anshul*, Ms. Gupta Pooja** *Assistant Professor, S.D.College of Management, Israna, Panipat **Lecturer, S.D.College of Management, Israna, Panipat, Haryana Abstract Good governance means that processes and institutions produce results that meet the needs of society while making the best use of resources at their disposal. Good corporate governance (GCG) is a mandatory requirement in today‘s corporate world by every stakeholder groups. Failure of giant corporate groups in last two-three decade strengthens the demand further. And surprisingly, in some of such failures, accounting as a discipline is held liable. The way accounting is practiced or the interpretations that may give different prescriptions in similar situations are some dark areas that may open some scope for the corrupted accountants. Still, the author believes that such claim against accounting is undue and unfounded. The paper is an earnest effort to uncover the issue and to protect it from such unfounded critics. It covers the concept of corporate governance, its legal framework, its current status and how accounting may be practiced to protect corporate from corruption by establishing governance. This study describes the Indian corporate governance system and examines how the system has both supported and held back India‘s ascent to the top ranks of the world‘s economies. While on paper the country‘s legal system provides some of the best investor protection in the world, enforcement is a major problem with slow, over-burdened courts and significant corruption. It finds that better corporate frameworks benefit firms through greater access to financing, lower cost of capital, better firm performance, and more favourable treatment of all stakeholders Top Keywords Corporate Governance, Compliance, Government Policy, Natural Law Ethics, Regulation and Virtue Ethics. Top |