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‘End users important in corporate reporting’
Our Bureau
Hyderabad, July 2
Corporate reporting and financial practices should keep the end users in mind, said Mr P.R. Ramesh, National Director, Audit & Enterprise Risk Series, Deloitte, Haskins & Sells.
Delivering the keynote address at a national seminar on ‘Corporate Reporting – Ethical Practices’ organised by the Commerce faculty of Osmania University here, Mr Ramesh said the challenges before corporate reporting include the need to ensure uniformity/transparency across different parts of the world.
There was a need to clearly identify the objectives of corporate reporting, keeping in view various stakeholders, he added. Mr B. Krishna Murthy, Local Head, Wipro, said a fool-proof system of checks and balances at various layers would help maintain transparency in corporate reporting.
“Several layers of controls at accountancy, decision-making, leadership, auditing and accounting should be there,” he added.
Prof P. Purushottam Rao, Dean, Faculty of Commerce, Osmania University, said a mix of practical experience and theoretical foundations were important for high standards in corporate reporting.
“This assumes importance after the recent scam at Satyam Computers which had a certificate for good corporate governance,” he added.
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