In a world of greater complexity, uncertainty and accelerating change, PwC’s Risk Advisory Services practice positions risk as a strategic imperative. PwC supports clients in defining their strategy, formulating business objectives and managing performance while achieving a balance between risk and opportunity or return.
An organisation’s ability to effectively mitigate and capitalise on risk is a growing differentiator in the marketplace. Our teams work cross-functionally with client organisations to factor risk into strategy, finance, operations, and compliance, while distinctively integrating the traditional disciplines of risk management.
Shift towards creating independent and empowered boards and at the same time, enhancing the role of the Board and its committees
Mandatory to set-up governance processes, including risk management, internal controls and compliance framework
Shift towards increased transparency through additional disclosures by the board in its report and financial reporting
Scope of related parties and transactions enhanced and stringent penalties incorporated
CSR reporting made mandatory for specified companies. Companies required to spend on the listed areas and make disclosures in the Board report
Stricter requirements for giving loans and making investments, even for private companies
Enhanced responsibility of the auditors and requirement of mandatory rotation. Prohibition from providing specified services
Secretarial requirements scaled up in the interest of corporate governance and towards this, ICSI secretarial standards made mandatory
The new Act is expected to be fully notified shortly, along with the issuance of all the related Rules and Forms
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