A score of publicly-listed companies would have ushered in tighter internal controls through the implementation of Clause 49 of the Listing Agreement, stipulated by the Securities and Exchange Board of India.
Clause 49, popularly known as Corporate Governance clause, makes it mandatory for all companies to have at least 50 per cent independent directors on its board.
A section of experts in Bangalore while discussing the revision focussed on the evaluation of internal control within organisations and examined the use of internationally accepted internal control frameworks like Committee of Sponsoring Organisations (COSO ), and Control Objectives for Information and related Technology (COBIT ) and evaluated the business and operational risks that organisations are exposed to.
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