A STRONG ENABLER. Global Quality Benchmarks Global Quality Benchmarks Free Competition Free Competition Speed of Service Speed of Service Increased Transparency.

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Presentation transcript:

A STRONG ENABLER

Global Quality Benchmarks Global Quality Benchmarks Free Competition Free Competition Speed of Service Speed of Service Increased Transparency Increased Transparency Cost efficiency Cost efficiency Knowledge & Resource sharing Knowledge & Resource sharing Sustainable solution. Sustainable solution.

IMPACT OF TECHNOLOGY ON CORPORATE GOVERNANCE & COMPLIANCE MCA 21 MCA 21 Digital Signature Certificate Digital Signature Certificate Video Conferencing Video Conferencing E–Voting E–Voting XBRL XBRL

MCA 21 Need for MCA 21: Services to nearly 7.5 lakh corporate entities. Elimination of Paper work Maintaining Global standards. Re-positioning India in Global digital map Fully automated for proactive enforcement and compliance of the statutory legal requirements Major Components Front Office Back Office

Digital Signature Certificates For authentication of any electronic record by a subscriber by means of an electronic method. It issued by a Certifying Authority. Uses: Authenticity Confidentiality Integrity Non-Repudiation Digital Signature comprises of: Public keyPrivate key

E-voting in Annual General Meeting: Election system that allows to vote through internet. E-Voting has been made mandatory for the top 500 listed on the Stock exchanges. Presently this service is provided free of cost. Uses: Provides a check for Red Tapism. Encourages active participation of shareholders

Video Conferencing It is conducting an audio & video conference between two or more persons situated at different places. It is a part of Green initiative taken by the MCA for Corporate Governance. Approval is given to Companies to hold Board and Annual General Meetings through Video conferencing. Uses : Cost & Time efficient Speedy Decision Making Transparency Provides larger participation

Participants: Software vendors Companies Trading partners Auditors Management Accountants Investors Central Banks Financial publishers Regulators  Language for the electronic communication of business and financial data.  It provides major benefits in the preparation, analysis and communication of business information.  It is being developed by a non-profit consortium. eXtensible Business Reporting Language

ALL THE VERY BEST THANK YOU