Author Archives: jayar

Franchisees are welcome, can assist companies to create Knowledge Base of Accountability. For companies big or small create internal franchisees and check the Haier case study

The four critical areas are brought to limelight :
1. Investor Assurance,
2. Investment Opportunities,
3. Promoting Consulting Firms,
4. CorporateMOM – Certification Scheme.

In this model, the board of directors is likened to protons, society to neutrons, and the workforce to electrons.
The board and society together form a strong “nucleus” around which the workforce (electrons) revolves. With the strong nucleus corporate stability is established.

Don’t get any false notion that Governance is part of an internal audit system and they would all report to an Audit Committee. There will not be any Audit Committee under the scheme of things when we move forward nor there would be any Internal Auditors. Brace yourself to forget ex-post-facto but apply ex-ante.

Modern CFOs are limited to analyzing financial ratios without much improvement in their methods. I argue that ICGI (The Institute of Corporate Governance of India) needs to be established to address these issues in accounting and financial management.

The millennium merger of AOL takeover of Time Warner is a case in point, creating a $335 billion company, proving that in a world ruled by finance, intangible assets rather than real assets are the indicator of real wealth. Tea Party is over.

Intangible assets worth $4.1 trillion were not included in United States statistics, highlighting the scale of the issue. Large companies in India have substantial intangible assets (around 10,000 crores each), and the Institute of Corporate Governance (ICGI) may be better positioned than auditors to address this issue.

AI is likely to take over basic data processing and accounting tasks, allowing employees to focus more on accountability and higher-level analysis.

Historical examples from Ibn Battuta and Marco Polo are used to illustrate the importance of trust, honor, and good governance in business and society. AI is logical, HI is paradoxical. The truth is inevitably paradoxical; it contains opposite values. A dilemma exists because of the truth. That is why the truth is illogical. Truth involves completely opposite values; only then, can it be Truth. ICGI helps to resolve the paradox.

The role of a modern Chief Financial Officer (CFO) is compared to that of a “Gumazda” (accountant) from 2,000 years ago, suggesting that accounting fundamentals have not changed significantly.