Corporate fraud and misconduct: Role of independent directors has been saved
Corporate fraud and misconduct: Role of independent directors
The growing focus on ethics and corporate governance within organizations has increased the importance of the role of an ID in being an effective deterrent to fraud, mismanagement and lapses in corporate governance.
The business disruption caused by the pandemic has further underscored the need to be vigilant and strengthen governance frameworks as historically, data shows that business disruptions/crisis have been followed by a rise in prevalence of fraudulent practices.
Against this background, Deloitte Touche Tohmatsu India LLP (DTTILP), in association with the Institute of Directors (IOD), has carried out a survey to understand how IDs perceive corporate fraud, their preparedness in addressing it, and the adoption of best practices to mitigate fraud and misconduct risks.