CFOs Urged to Lead in Enhancing Financial Transparency
Sebi calls on CFOs to minimize the delay between announcing financial results and releasing comprehensive annual reports. Ananth Narayan emphasizes CFOs’ critical roles in maintaining investor trust and adapting to rapid market changes. He highlights the balance needed between fostering innovation and ensuring regulatory diligence.
- Country:
- India
In a recent appeal to Chief Financial Officers (CFOs), the Securities and Exchange Board of India (Sebi) emphasized the need to reduce the time lag between the announcement of financial results and the publication of full annual reports. This move is aimed at boosting investor confidence through enhanced transparency.
Ananth Narayan, Whole Time Member of Sebi, highlighted during an event that the vital role of CFOs has evolved from record-keeping to leading as value architects in financial management. He also discussed the need for CFOs to work closely with audit committees and auditors for more accountable financial disclosures.
Narayan also noted trends such as rapid capital market growth and the increased number of unique investors. He warned against the pitfalls of both governance failures and over-regulation, which can hinder innovation. Highlighting recent breaches of trust, he called for CFOs to engage more actively in shaping fair regulations.
(With inputs from agencies.)
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