Author Archives: jayar

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.

My mission is to establish the Institute of Corporate Governance of India. Why do we need that? Why do we need. That is a good question.

Because why else DOGE is there in United States, USAID, any number of rules, all that, but we are not able to find out to justify the conduct of the people who have been entrusted with everything. So that’s the reason why the rules express the truth and justify the conduct. That is the ethics.

My objective is to bring the Institute of Corporate Governance of India under an Act of Parliament. There is a need for it. That is my emphasis. Analytics Textile and Apparel Target US$350 billion – 2030 Added

Every year one budget comes and goes but this year budget I think is spectacular and I appreciate Nirmala Sitharaman who has done a tremendous job. Reciprocity is expected from the companies for their own good. Buck-up Industry, tell us what Industry Associations in different forms went to FM before the Budget and what did you ask the FM? If given all the gifts you had asked for, it is time you show your commitment.

I argue that India’s experiment with foreign audit firms has failed and call for the Big Four firms to “buck up” and improve their performance and responsibility.

In ICGI 04- 04 – SOS Governance Standards – I highlight the importance of governance over financial performance

Jayaraman Iyer sends Narendra Modi a report on HACCP of Bank Audit, emphasizing the need for a “SOS Governance Standards” approach to integrate P&L, Balance Sheet and RWA BASEL III parameters and provide a common rating system for Banks.

SOS Governance rectifies the reported dissatisfaction – In a research report by Forrester and Diligent, governance professionals indicated that ”’visibility into sustainability and ESG issues”’ was their greatest dissatisfaction. [Means ESG Scores are rubbish – isn’t it?]

Audit Firms can feel good about restoring GRACE – GOVERNANCE, RESPONSIBILITY, AUTHORITY, CREDIBILITY, ENABLEMENT
Balance Sheet is their territory and allowing a non-monetary so called asset to creep in, is their mistake entirely. Correct it now, now, now.

Empowering Auditors is the crux of my presentation that I call for strengthening ICAI to re-calibrate its working to the demands of our society that is made up of MSMEs and pan puri walahs that our Chartered Accountants cater to, besides being the Statutory Auditors for all listed companies.