Podcast Episode 124 10-05 Promoting Consultants to drive accountability

10-05 Promoting Consultants committed to ethics-first governance to drive accountability – THINK Tanks

I set my agenda for Vibrant Gujarat Global 2024 Summit, Enhancing Investor-Investee-Consulting Firms Relationship

1. Investor Assurance,
2. Investment Opportunities,
3. Promoting Consulting Firms,
4. CorporateMOM – Certification Scheme.

1. Investor Assurance:
– Drawing lessons from Project Amaravati (₹64,721 crores), emphasizing the Troika of Entanglement—Investor (Govt. of India), Owner (AP Govt.), and Contractors (Investee Companies).
– The challenge lies in ensuring investment outcomes through measurable accountability.

2. Investment Opportunities:
– Infrastructure projects, like smart cities (~₹1.5 lakh crores), suffer from poor accountability despite massive spending.
– Investment assurance must be strengthened to ensure public funds yield tangible results.

3. Promoting Consulting Firms:
– The Big Four consulting firms (PwC, KPMG, EY, Deloitte) focus on vendor and financial due diligence but neglect governance due diligence.
– The need is for meritocracy-driven consulting firms that use MeRIT (Measure, Record, Implement, Track) for real accountability.

4. CorporateMOM Certification Scheme:
– Establishing a framework to certify consulting firms that align with high-quality governance and ethical AI standards.
– This ensures consulting firms track project execution rather than just producing reports and walking away.

Herein I present how I have selected a Consultant committed to ethics-first governance to drive accountability, articulating a structured approach to transforming governance accountability through AI-driven systems, ethical consulting, and investment assurance. Ethics – AI – Education Council: Scaling Accountability for the Future, by establishing a THINK Tank in every Investee Company would, reinforce IBCM Technology methodology on Project Amaravati hailed as a global precedent in Accountable Infrastructure Development.

Big 4 firms have failed miserably. Let us expand beyond the Big Four, fostering thousands of specialized consulting firms, as what I have concluded with one, to support Viksit Bharat 2047.