Corporate governance primarily focuses on the management and control of a ___ and its relationships with various stakeholders.

Company

True or False: Corporate governance is an outdated concept that has no relevance in modern business practices.

False. Corporate governance is essential for ensuring transparency, accountability, and ethical behavior in business.

The Cadbury Committee Report, which focuses on corporate governance, was published in ___ and aimed at improving the financial aspects of governance.

1992

Fill in the blank: Corporate governance requires management to act as ___ for the shareholders.

Trustees

What are the key components that corporate governance aims to ensure among stakeholders?

Fairness, transparency, and accountability.

True or False: The Sarbanes-Oxley Act was introduced in response to the collapse of several corporations due to poor corporate governance practices.

True

Fill in the blank: The need for corporate governance has arisen due to concerns about non-compliance with ___ reporting standards.

Financial

Name one significant initiative taken by SEBI to enhance corporate governance in India.

The establishment of a regulatory framework through Clause 49 of the Listing Agreement.

True or False: Corporate governance only concerns the relationship between shareholders and the board of directors.

False. It also includes stakeholders such as employees, suppliers, customers, and the public.

Fill in the blank: Corporate governance is about commitment to values, ethical business conduct, and distinguishing between ___ and corporate funds.

Personal

What is one major challenge highlighted regarding corporate governance in India?

The non-compliance of financial reporting standards and accountability by boards of directors.

True or False: The King Committee on Corporate Governance was established in India to promote better corporate governance practices.

True

What is the relationship between good corporate governance and the sustainability of a company?

Good corporate governance enhances long-term sustainability and increases the company's value.

Fill in the blank: The OECD Principles of Corporate Governance were established in ___ to promote effective corporate governance frameworks.

2004

What overarching principle does the Indian approach to corporate governance derive from?

The Gandhian principle of trusteeship.

Corporate governance primarily involves the management and control of a company through rules governing the relationships among its ___, ___, and stakeholders.

Owners, board of directors

True or False: The primary responsibility of management in corporate governance is to prioritize the interests of a select group of shareholders over the entire stakeholder community.

False. The management's responsibility is to act as trustees of all shareholders' interests.

Fill in the blank: The Sarbanes-Oxley Act was introduced to restore public confidence in companies after accounting frauds such as those involving ___ and ___.

Enron, WorldCom

What role do the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) play in corporate governance in India?

They undertake initiatives to establish and maintain corporate governance standards for listed companies.