C.G. Naresh Chandra Committee Report
C.G. Naresh Chandra Committee Report
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a) Prohibition of any direct financial interest
b) Prohibition of receiving any loan/guarantee
c) Prohibition of personal relationships
d) Prohibition of service or cooling off period
e) Prohibition of undue dependence on an audit client
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a) Accounting and book-keeping services
b) Internal audit services
c) Financial information systems design and implementation
d) Actuarial services
e) Broker, dealer, investment advisor
f) Outsourced financial services
g) Management functions
h) Any form of staff requirement
I) Valuation services.
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¬- Appointment of Auditors
10- CEO and CFO certification of annual audited accounts
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1- Defining an independent director
14- Percentage of independent director
15- Minimum Board size of listed companies
16- Disclosure of duration of Board/Committee meetings
17- Tele-conferencing and video conferencing
18- Additional disclosures to directors
1¬- Independent directors on Audit committees of listed cos.
20- Audit committee charter
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24- SEBI and subordinate legislation
25- Improving facilities in the DCA offices
26- Corporate Serious Fraud Office (CSFO)
27- Changes in Company Law
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15- Reviews dealing with various performance areas to be put
up to the Supervisory Committee of the Board and a
summary of each review to the Board for scrutiny &
action,
16- Minutes to be recorded in uniform & formalised manner.
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17- Qualified Company Secretary to be appointed in all
banks, and should also have a Compliance Officer
reporting to the Secretary
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18- a) Supervisory Committee
b) Audit Committee
c) Nomination Committee
d) Shareholder¶s Redressal Committee
e) Risk Management Committee
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1¬- a) Progress made in putting in place a progressive risk
management system,
b) Exposure to related entities
c) Conformity with Corporate Governance standard
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