Corporate Governance

Economic crime is emerging as a bigger threat than before. When companies in India
expand their reach to other countries, they are exposed to not just
“home-grown” frauds, but also frauds prevalent in other markets. Amongst the
growing unethical business practices in India 55% of Indian companies in the
past two years had reported incidents of fraud. The report claims only 34% of
Indian companies have insurance covers for losses due to fraud against 45%
globally. According to KPMG survey 2008 on the state of corporate governance in
India, majority of respondents believe that while corporate governance should
be practiced through principle-based standards and moderate regulations, there
is a need for stronger regulatory review and exemplary enforcement.