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technology

technology. A STRONG ENABLER. Technology Enables:. Global Quality Benchmarks Free Competition Speed of Service Increased Transparency Cost efficiency Knowledge & Resource sharing Sustainable solution. IMPACT OF TECHNOLOGY ON CORPORATE GOVERNANCE & COMPLIANCE. MCA 21

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technology

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  1. technology A STRONG ENABLER

  2. Technology Enables: • Global Quality Benchmarks • Free Competition • Speed of Service • Increased Transparency • Cost efficiency • Knowledge & Resource sharing • Sustainable solution.

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

  4. MCA 21 • 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 Need for MCA 21: • Services to nearly 7.5 lakh • corporate entities. • Elimination of Paper work • Maintaining Global standards.

  5. 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

  6. 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

  7. 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

  8. eXtensible Business Reporting Language • 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. Participants: Software vendors Companies Investors Central Banks Financial publishers Trading partners Auditors Management Accountants Regulators

  9. ALL THE VERY BEST THANK YOU

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