Demonstrating that culture is no more a softer aspect of corporate governance, a survey report by Grant Thornton-CII titled ‘Corporate governance practices review 2019’ finds that 93% of the businesses surveyed have identified culture as an important catalyst for implementing strong corporate governance. Further acknowledging the role of corporate governance in driving growth, 95% of the respondents affirm that good corporate governance practices help organisations achieve better operational and financial results. The report was launched at CII’s 10th India Finance Forum in Chennai today.
Recognising the need for greater transparency across the business spectrum, 75% of the respondents believe that mandatory corporate governance practices should be extended to unlisted companies. The respondents also stressed on the significance of promoting diversity on boards, with 88% affirming that their organisation has a women director on their board.