ICSI Governance Business Ethics and Sustainability Solved Question Paper Dec 2013
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Chapter - 1 Evolution and Development of Concept of Corporate Governance 2013 - June 1 C a A corporate does not exist by itself and it does not operate in vacuum. Its work is organized and facilitated with the help and co-operation of all the constituents of the society in which it functions. The fundamental basis of corporate governance and responsibility in the value system of the corporation includes the following i its human resource principles - respect and dignity for all. ii its dedication to accurate and transparent accounting and financial standards. iii its concern for the environment, for good business ethics and conduct for social advancement. iv its focus to serve customers and to guarantee its products and services. v its insistence on fair treatment of suppliers and competitors. vi its commitment to comply with government laws and regulations in all countries in which it operates. vii its desire to work with others to lead society to a better economic standard and quality of life. A good structure of corporate governance satisfies these needs and interests of different stakeholders in a way that provides for long- term growth in the value of the company and its contribution to society. In the Indian context, the arena of corporate governance is continually evolving. Clause 49 of Listing Agreement is the foremost amongst legislations on corporate governance, which was included in the Listing Agreement in February, 2000.
Appen dix C S Pro fessio nal Program me Module - III Paper 8
In the recent years Corporate Social Responsibility and sustainability is being regarded as an important element of corporate governance. In this context, the Ministry of Corporate Affairs issued the CSR Voluntary Guidelines in 2009. Keeping in view the feedback from stakeholders, review of 2009 Guidelines was undertaken resulting in the formulation of 2011 Guidelines entitled National Voluntary Guidelines on Social, Environmental and Economical Responsibilities of Business that will mainstream the subject of business responsibilities. The Guidelines were released by MCA on July 8 th, 2011. 2013 - June 4 b i Please refer 2012 - June 4 b i on page no. 25 Chapter - 2 Issues and Challenges of an Effective Board 2013 - June 4 b iii Please refer 2011 - June 2 a i on page no. 30 Chapter - 3 Committees of the Board 2013 - June 3 c Please refer 2012 - June 3 b on page no. 52 Chapter - 4 Internal Control Systems, Risk Management, Transparency and Disclosure 2013 - June 2 a iii