Munich Personal RePEc Archive

Critical Analysis of Accounting Standards vis-à-vis Corporate Governance Practice in India

Sapovadia, Vrajlal (2003): Critical Analysis of Accounting Standards vis-à-vis Corporate Governance Practice in India. Published in: SSRN , Vol. 1, No. 2003 (30 June 2003)

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Abstract

Good Corporate Governance ensures better corporate performance, relationship with stakeholders, where the proper practice of Accounting Standards assumes immense importance at micro level, as effective disclosure leads to shareholders’ wealth maximization and at macro level, they are essential to the efficient functioning of the economy because decisions about the allocation of resources/investment rely on credible, concise, transparent, comparable and understandable financial information about the corporate operations and financial position.

To practice Good Corporate Governance, information should be prepared and disclosed in accordance with high quality standards of accounting and financial and non- financial disclosure. This paper, critically examine the relevant Accounting Standards and such practices in India, to evaluate potency and fairness vis-à-vis Good Corporate Governance. The government should internally harmonize different authorities and Accounting Standards to align to have good corporate governance amongst business enterprises.

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