With reference to National Foundation for Corporate Governance NFCG consider the following statement...........

Economic Affairs Others

Download Solution PDF

With reference to National Foundation for Corporate Governance (NFCG), consider the following statements.

It is an initiative of the FICCI and CII.
It acts as an informal appellate mechanism for corporate frauds in the industry.
It publishes a model Corporate Governance Code annually which must be agreed by a firm in order to get representation in FICCI.

Select the correct answer using the codes below.

1 only

2 and 3 only

1 and 3 only

None of the above

छोटे Courses बड़े Results

Master Others

Prepare through Micro-courses

Try Now

Explanation:

It was set up in the year 2003 by the Ministry of Corporate Affairs (MCA), in partnership with Confederation of Indian Industry (CII), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI) to promote good Corporate Governance practices both at the level of individual corporates and Industry as a whole. In the year 2010, Institute of Cost Accountants of India (ICAI) and National Stock Exchange (NSE) and in 2013 Indian Institute of Corporate Affairs (IICA) were included in NFCG as Trustees.

Mission is to:

To foster a culture of good governance, voluntary compliance and facilitate effective participation of different stakeholders;
To catalyze capacity building in new emerging areas of Corporate Governance.
To further research, scholarship, and education in corporate governance in India;
To create a framework of best practices, structure, processes and ethics;