A session on Audit Compliance and Corporate Governance was organised for PGDM-RM
students (batch 2023-25) on 22th Feb 2025. The guest speaker for the session was Dr. S.K.
Gupta (Managing Director – ICMAI Registered Valuers Organization). Dr. Gupta emphasized
the necessity for businesses to implement effective governance practices in order to achieve
sustainability and success in the current VUCAFU world (Volatile, Uncertain, Complex,
Ambiguous, Fragile, and Uncertain). He elaborated on how disruptive business models,
profitless turnovers, and unsustainable growth are reshaping corporate structures and why
governance plays a key role in ensuring fair and ethical decision-making. The session
detailed on the roles and responsibilities of the Board of Directors, highlighting the
significance of independent directors, board diversity, and ethical leadership in fostering a
company’s growth.
The session also provided a comprehensive overview of board committees, including the
Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship
Committee, CSR Committee, Risk Management Committee, and Compliance Committee. Dr.
Gupta explained how these committees’ function to enhance financial accountability, monitor
risk, resolve stakeholder grievances, and ensure regulatory compliance. Dr. Gupta also shed
light on corporate frauds and governance failures through real-world case studies of IL&FS,
DHFL etc, stressing the importance of risk assessment, internal audits, and ethical leadership
in preventing such crises.
The discussion also extended to emerging trends in corporate governance, including the
growing impact of Environmental, Social, and Governance (ESG) frameworks, the role of
whistleblower mechanisms, and the need for greater accountability in financial reporting. Dr.
Gupta emphasized that organizations must adopt structured governance models, promote
transparency in operations, and implement strict internal controls to mitigate risks and foster
sustainable business growth. The session was a great success and prepared PGDM-RM
students for incorporating good and ethical corporate governance practises in their future
corporate endeavours.