{"id":2788,"date":"2024-05-01T04:25:20","date_gmt":"2024-05-01T04:25:20","guid":{"rendered":"https:\/\/www.founderlabs.in\/?p=2201"},"modified":"2024-05-01T04:25:20","modified_gmt":"2024-05-01T04:25:20","slug":"corporate-governance-charter-for-start-ups-cii-governance","status":"publish","type":"post","link":"https:\/\/www.founderlabs.in\/?p=2788","title":{"rendered":"Corporate Governance Charter for Start-Ups: CII"},"content":{"rendered":"\n

The Confederation of Indian Industry (CII) recently urged Indian Startups to create their own charter and distinguish between the goals of the organization and founder.<\/p>\n\n\n\n

This is important in current phase as measuring valuation of start up should be on \u201crealistic\u201d basis that can be long term..<\/p>\n\n\n\n

“The valuations of businesses should be kept as realistic as possible,” CII said in its Corporate Governance Charter for Start-ups.<\/strong><\/p>\n\n\n\n

The charter will have set of tools like online self-evaluation governance score card that will help Start-ups measure their governance progress. As score changes it will make easier to map progress in governance practices.<\/strong><\/p>\n\n\n\n

The key pointers of the Charter:<\/strong><\/p>\n\n\n\n

The charter emphasized the external auditing of Startups.<\/p>\n\n\n\n

“It is important to ensure the maintenance of proper books of accounts, establish transparent policies and procedures to ensure the independence and effectiveness of audit functions, and integrity of reporting,” it said.<\/p>\n\n\n\n

“An audit of annual financial statements by an external independent auditor and prevention of conflicts of interest from external auditors are crucial.”<\/p>\n\n\n\n

CII noted that startups must ensure timely disclosures by board members and key management personnel to address issues related to conflict of interest.<\/p>\n\n\n\n

<\/p>\n\n\n\n

As part of the charter, CII also launched an online self-evaluative governance scorecard which a start-up may fill in to understand the current level of governance and its progression.<\/p>\n\n\n\n

Read our stories: https:\/\/www.founderlabs.in\/cdn-customer-services-cloud-in-offers-24×7-cloud-managed-services-at-minimal-cost-managed-security-cloud-migration-disaster-recovery\/<\/a><\/strong><\/p>\n\n\n\n

“For entities to build trust among all its stakeholders, businesses need to adopt the best-in-class Corporate Codes.<\/p>\n\n\n\n

“These Codes set a benchmark for monitoring, evaluating, and improving the prevailing governance practices,” said R Dinesh, President of CII and chairman of TVS Supply Chain Solutions Ltd.<\/p>\n\n\n\n

The charter also issued guidelines based on the startup’s life cycle, which was segregated into four stages: Inception, Progression, Growth, and Going Public.<\/p>\n","protected":false},"excerpt":{"rendered":"

“These Codes set a benchmark for monitoring, evaluating, and improving the prevailing governance practices,” said R Dinesh, President of CII and chairman of TVS Supply Chain Solutions Ltd.<\/p>\n","protected":false},"author":3,"featured_media":2218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[643],"tags":[770,771,772,773,47],"class_list":{"0":"post-2788","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-start-up-news","8":"tag-charter","9":"tag-cii","10":"tag-confederation-of-indian-industry","11":"tag-governance","12":"tag-startup"},"yoast_head":"\nCorporate Governance Charter for Start-Ups: CII - Founderlabs<\/title>\n<meta name=\"description\" content=\"CII also launched an online self-evaluative governance scorecard for startups to understand governance and its progression.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.founderlabs.in\/?p=2788\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corporate Governance Charter for Start-Ups: CII\" \/>\n<meta property=\"og:description\" content=\"CII also launched an online self-evaluative governance scorecard for startups to understand governance and its progression.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.founderlabs.in\/?p=2788\" \/>\n<meta property=\"og:site_name\" content=\"Founderlabs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/founderlabsindia\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T04:25:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.founderlabs.in\/wp-content\/uploads\/2024\/04\/et.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"911\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gargi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:site\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gargi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788\"},\"author\":{\"name\":\"Gargi\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/#\\\/schema\\\/person\\\/afab350a7a241df759bfd7f712a8039d\"},\"headline\":\"Corporate Governance Charter for Start-Ups: CII\",\"datePublished\":\"2024-05-01T04:25:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788\"},\"wordCount\":306,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.founderlabs.in\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/et.jpg\",\"keywords\":[\"Charter\",\"CII\",\"Confederation of Indian Industry\",\"Governance\",\"startup\"],\"articleSection\":[\"Ecosystem Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788\",\"url\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2788\",\"name\":\"Corporate Governance Charter for Start-Ups: CII - 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