At present, there is a huge push on corporate governance across the world. The regulatory bodies are emphasizing more towards corporate governance and are moving towards severe penalizing organizations for non-compliance and are holding the CEO and CFO accountable for their serious financial misconducts. With the increasing surveillance on corporate governance, in order to reduce costs and to have more control over information, companies are investing in a flexible and integrated approach to compliance management.
Shortly after our independence, dollar replaced pound for our bilateral financial transactions. It is now more than four decades that the Indian economy has been getting affected directly due to fluctuation in dollar activity. The recent US economic situation, which is affected seriously after `September 11', high fluctuations in the economic activities of Southeast Asian countries, other emerging countries like Brazil and continuous military activities in different parts of the world which invariably involved the US, has become major cause of concern globally. The story of India getting affected is now reversed to some extent. It is now the US which gets affected by the economic fluctuation in South Asian countries. Initially, it was Japan during the 1980s which took up the challenge of breaking the international trade monopoly of the US. Prior to 1980, the US economy was not only strong, but its trade surplus was also enviable. But when Japan took over the trade crown, since then, almost 20 years now, US is trying to compete with Japanese industrial giants to keep its trade deficit at a minimum level, though at times, in between, it is enjoying trade surplus at a regular economic cyclical intervals (known as natural boom). |
