technology
DESCRIPTION
technology. A STRONG ENABLER. Technology Enables:. Global Quality Benchmarks Free Competition Speed of Service Increased Transparency Cost efficiency Knowledge & Resource sharing Sustainable solution. IMPACT OF TECHNOLOGY ON CORPORATE GOVERNANCE & COMPLIANCE. MCA 21 - PowerPoint PPT PresentationTRANSCRIPT
A STRONG ENABLER
TECHNOLOGY
Technology Enables: Global Quality Benchmarks Free Competition Speed of Service Increased Transparency Cost efficiency Knowledge & Resource sharing Sustainable solution.
IMPACT OF TECHNOLOGY ON CORPORATE GOVERNANCE & COMPLIANCE
MCA 21
Digital Signature Certificate
Video Conferencing
E–Voting
XBRL
MCA 21
Need for MCA 21: Services to nearly 7.5 lakh
corporate entities. Elimination of Paper work Maintaining Global standards.
Re-positioning India in Global digital map Fully automated for proactive enforcement and compliance of the statutory legal requirements
Major Components Front Office Back Office
Digital Signature Certificates For authentication of any electronic record by a subscriber
by means of an electronic method. It issued by a Certifying Authority.
Uses: Authenticity Confidentiality Integrity Non-Repudiation
Digital Signature comprises of:
Public key Private key
E-voting in Annual General Meeting: Election system that allows to vote
through internet. E-Voting has been made mandatory for the top 500 listed on the Stock exchanges. Presently this service is provided free of cost.
Uses:
Provides a check for Red Tapism.Encourages active participation of shareholders
Video ConferencingIt is conducting an audio & video conference between two or more persons situated at different places.It is a part of Green initiative taken by the MCA for Corporate Governance.Approval is given to Companies to hold Board and Annual General Meetings through Video conferencing.
Uses: Cost & Time efficient Speedy Decision Making Transparency Provides larger participation
Participants:
Software vendors
CompaniesTradin
g partne
rs
Auditors
Management
Accountants
Investors
Central Banks
Financial publishers
Regulators
Language for the electronic communication of business and financial data. It provides major benefits in the preparation, analysis and communication of business information. It is being developed by a non-profit consortium.
eXtensible Business Reporting Language
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