Saturday, September 10, 2016

ICSI NATIONAL AWARDS FOR EXCELLENCE IN CORPORATE GOVERNANCE, 2016-Some musings on questionaire

I was going through the questionaire for the ICSI award out of interest. Following points struck me as points which even more investors/professionals miss out, and hence I thought it warrants a post. One can read the full questionaire below
https://www.icsi.edu/webmodules/Final_Questionnaire_1092016.docx


  1. Internal Auditor is envisaged as internal & external, and membership number is sought in each case. Interesting way to hint at professionals.
  2. Like in the tax audit form, qualifications in cost audit/secretarial audit are also sought.
  3. For women directors, it is specially asked if she is executive and/or independent. 
  4. It is asked whether the Company Secretary reports to the CEO/MD/ED, General Counsel, CFO or any other official. Probably they want to gather data on the 'aukaad' of the professional :D since most other KMP would report into the CEO or the Director(Finance & Legal)
  5. It is further asked about whether a separate compliance department exists outside of the CFO/CEO offices, and its reporting
  6. Credit Rating trend in year is asked-Whether worse/unchanged/improved and whether outlook worse/unchanged/improved
  7. % of differently abled employees is sought
  8. Independent assessment of sustainability initiatives/reporting is asked. 
Investors would do well to see many of these points especially internal audit, credit rating, independent CSR/Sustainability spend assessment.

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