Here I have posted a different post – CREAMCHAIN – The dawn of the Data Management Dynamics. It’s a combination of my CREAM Report and Blockchain. Please do have a look at. The last one is a challenge to companies like Google, IBM, Microsoft or SAP. And also to very many techies. If you are ready, I am.
In a recent article “Effective leaders develop and promote the culture: Bayer’s K S Harish” I was quite impressed by Bayer’s relentless pursuit of excellence, one for example, “Our accelerated leadership program – My Growth My Life (MGML) – aims at grooming internal talent for leadership positions in the organization.”, and the other Harish talking about is ‘Reverse Mentoring’.
Successful IITs and IIMs make a very small group. We lack that set of men and women with 3 Qualities – Integrity, Intelligence and Energy. Return on Intangible identifies them. The culture we all need but available in plenty. Know it, they are ready for ‘Reverse Mentoring’, no longer hierarchical one man call centre in any company?
In our obscurity – in all this vastness – there is no hint that help will come from elsewhere to save us from ourselves. It is up to us. – Carl Sagan
Last week FM Nirmala Sitharaman announced many an incentive to India Corporate, sharp cuts in corporate taxes among many more. It was followed by a CSR incentive to allow corporate India to use their mandatory CSR spending on publicly-funded incubators for R&D.
PM Modi tells investors to ‘come to India’ to aid $5 trillion GDP Goal, offering a 4-D Advantage Model of growth – Democracy, demography, decisiveness, demand.
In this paper I present data of past, strategy plan 2024 and how present be tackled. Corporate India has work in their hands, to compete with China. It is imperative that India gets its share of FDI in course of chasing the dream of $5 trillion economy. It’s hard. CSR way is the right way. Accumulating Ethical Assets is going to be crucial in attracting foreign investment.
In the context of finding a solution when Audit Profession is at a low ebb, I see an oasis in a desert. I found Global Review 2017 Your BDO, an interesting document in resolving the issues raised on account of substandard Audits.
BDO seems to be on a good pedestal. The Technology Direction BDO has undertaken goes hand in hand with A&A – Audit and Assurance as well as Technology Advisory. It augurs well for both.
My analysis of BDO is a step ahead to include advancement and mastery over Sustainable Value System. This definitely calls for a different set of approach in structural change in client companies. It is imperative.
Measuring Ethical Assets will be of considerable importance in placing Corporate in the path of growth. Bring Ethical Assets Premium Account in Balance Sheet is the answer for committed Auditors and Corporate alike. Measuring by Corporate Governance is the solution.
This is my letter to The Prime Minister of India suggesting how to eradicate Corporate Corruption? I specify the role of Audit Profession and its need of the hour.
Balance Sheet is bereft of any Ethical Assets that many companies do seriously make use of but are not able to represent the same in the Balance Sheet. Unlike Brand Value dominant in 1980s that resulted in creating standard for IAS 38 Intangible Asset, today use of many a standard Policy document such as UNCAC gets hidden as to be never brought to the forefront of market analysis. It is indeed a surprise why it is not so. By bringing it up in the Balance Sheet companies would find themselves a class of their own. I am suggesting how to do that?
Audit profession has taken a toll and mainly the Big 4 firms. It is a great opportunity for the Audit Profession as a whole to verify the Ethical Assets Premium Account and take a step in enhancing their professional capability.
Check your premises, Nirmala Seetharaman?
The same institutions, the same corporate juggernauts are the ones we would be hoping to take India to a $5 Trillion Economy? Wishful thinking or shot in the dark? I am questioning the Government as to their wishful thinking because of the untrustworthy buccaneers? Modi 1.0 had ushered in a Qualitative Elements in Governance and hoping Modi 2.0 would ensure revenue, profits and growth. The fault lines are with the corporate and banking not with the government. Modi 2.0 priority ought to make sure questionable practices are out and so is ‘phone banking’? But how?
In a recent article in The Economic Times, Vinod Mahanta and Sachin Dave ”A slew of systemic and cultural issues that threw top auditors off balance – Each day as clamour grows for strict action against auditors, the profession finds itself at a crossroads.” they discuss threadbare the burning issue of Auditors particularly Big 4 Firms are going through. This article “Who failed Big 4 Audit Firms, is it Corporate Governance or Management Quality?” summarises the opinions of the quoted experts and offers my view point to resolve the issues offering solutions to the n-dimensional problems. Extracts are from my book on Return on Intangible.