Confidentiality And Transparency In Corporate Governance
Prajanya Mythili R, Kirit P Mehta School of Law, NMIMS, Mumbai.
ABSTRACT
Accountability holds a company responsible for their actions and discretion authorizes and allows power to the company to act within certain powers and limitations. Both these elements are very important in establishing Corporate Governance. This research paper aims to strike a balance in maintaining secrecy of information that are meant to be confidential for the benefit of the company and equally uphold the interest and the trust the public have on the company by providing them with accurate, periodic and timely financial records and other documents necessary to the public knowledge. The legal and ethical challenges are what helps in balancing both the above mentioned components (Transparency and Confidentiality) of Corporate Governance. Transparency enhances the trust of the stakeholders and the confidence of the investors which are essential for the protection of the sensitive data information and disclosing the right material to the public to meet their demands. The paper aims to establish strategies through which a good Corporate Governance can be established by the company in consonance with a balance in the Transparency and Confidentiality protections to be practice and suggest recommendations to the investors, stakeholders and policy makers to create an environment with an effective administration of Confidentiality and Transparency.
Keywords: Accountability, Corporate Governance, Transparency, ethical challenges, stakeholders.
