IIM Indore Hosts Conference on Corporate Governance

IIM Indore Hosts Conference on Corporate Governance

Having defined clearly what corporate governance actually is and its gamut of implications, Mr. Kamlesh went on to list out the stake-holders of Corporate Governance. In the aftermath of the Satyam debacle, he spoke about the responsibilities of the CEO, CFO

and the COO towards Corporate Governance, as well as the executive and non-executive directors. He next addressed the role of the Board of Directors and their accountability to share-holders. He spoke about the "conflict of interest" issues that need to be handled by the board.

Mr. Kamlesh also highlighted various internal committees and their roles with respect to corporate governance. He specially highlighted the role of the Audit Committee in avoiding accounting frauds. He pointed out the role of internal and external auditors, the independence they need to preserve, and how they must not undertake any activity that compromises that aspect. Next, he spoke about the aspect of the "voice of share-holders" and how share-holder activism is in the nascent stage in India vis-a-vis that in the West.

Finally, he spoke about the cases of accounting frauds across the world. Some of the most notorious frauds which include Worldcom, Enron, Madoff and Satyam, were highlighted. He highlighted on the speech of US President, Barack Obama, about the lack of regulations even in the US market.

From corporate governance, the conference shifted to corporate spirituality, with an esteemed guest on campus, Swami Shri Bodhamayananda Ji. Swami Ji has been with the Ramakrishna Mission since 1984 and has to his credit around 430 workshops on personality development, management, etc., covering 52,000 students, faculty and others.

With quotes of the great Swami Vivekananda, Swami Bodhamayananda Ji spoke about the evolution of humankind, and how nature has been explored as well as exploited. According to him, it is at this cross-road that spirituality comes into play. By means of the story of Lord Neelkantha, Swami Ji explained how the same philosophy of battling pollution (in the form of various vices) can be applied in modern times. He mentioned the fact that many corporate today look out to visionaries like them, to spread spirituality and help them achieve happiness. Swami Ji spoke of the need for a guiding light within the untrained mind.

Explaining the difference between religion and spirituality, Swami Ji said, "A religious man looks for a list of Do's and Don'ts from God, but a spiritual man doesn't rest until he has god himself." According to him, every individual is potentially divine and the goal of life is to manifest this divinity. His stories of Swami Vivekananda explained how the great saint tried to teach human beings self-actualization and realization. His mesmerizing speech and stories touched the hearts of every individual among the crowd.

Concluded.

Contributed by -
Media & PR Committee,
IIM Indore.

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