Audit quality and board independence

Chakrabarti, Rajesh (2018) Audit quality and board independence. National Law School of India Review, 30 (1). pp. 51-59.

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Corporate governance is increasingly becoming an important regulatory field all over the world. India has largely followed the path laid down by the corporate governance developments in the West. There have been several regulatory reforms and recommendations from various committees in in this regard. Two of the recent regulatory developments in India have been the Kotak Committee Report, and the ban on Price water house Coopers for its involvement in the Satyam Scandal. Keeping these developments as a backdrop, the article seeks to analyse the issues related to the two important pillars of corporate governance: independent directors and auditors. Further, the article sheds light on the manner in which the relationship shared by these two pillars impacts the corporate sector. The objective of this article is to reflect on the existing condition of corporate governance in India and critically analyse the responses to it using the recommendations made in the Kotak Committee report. Along with this, the article also proposes some suggestions for resolving the current problems. The article is divided into two broad sections. First, it discusses the practical realities of having informed and independent boards. Secondly, it analyses the impact of the quality of auditing on the boards. The article concludes with establishing the need to recognise the dependence of the quality of the board on the functioning of auditors.

Item Type: Article
Keywords: Corporate Governance | Satyam Scandal | Kotak Committee Report
Subjects: Social Sciences and humanities > Business, Management and Accounting > Business and International Management
JGU School/Centre: Jindal Global Business School
Depositing User: Mr Sombir Dahiya
Date Deposited: 05 May 2022 04:36
Last Modified: 05 May 2022 04:36
Official URL:


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