Unlike the central governance issue in the Anglo Saxon world, which is essentially that of disciplining management that may stop being accountable to the owners, who are dispersed shareholders, the central challenge in corporate governance in India is that of disciplining the dominant...

With the implementation of IFRS in Indian companies and cross-border mergers and acquisitions, audit committee forms an important element of corporate governance mechanisms interfacing both with the internal and external stakeholders. Accordingly it has a critical role to play in monitoring and...