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Independent directors on the boards of many companies across various sectors said their roles remained relevant despite the Satyam episode.
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Raju confesses to fraud, quits - Business Standard
In one of the darkest days in India?s corporate history, Satyam Computer Services Founder and Chairman B Ramalinga Raju resigned after saying he falsified earnings and assets. The revelation comes soon after Raju was forced to reverse a decision to ...
Roles of independent directors exposed - Business Standard
"Even the best independent director of a company cannot detect a fraud if the auditor cannot detect it. And most independent directors are not involved in the workings of a company for more than 15 days," said Omkar Goswami, founder and Chairman of ...
Holes exposed in independent directors' roles - Business Standard
Besides, some felt that not much should be expected from them, especially if the auditors fail in their duty to detect financial frauds. "Even the best independent director of a company cannot detect a fraud if the auditor cannot detect it. And most ...
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