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ICAI notifies Handbook on Role of Women Directors

By Team Taxscan - On February 12, 2021 9:56 am

The Institute of Chartered Accountants of India (ICAI) notified the Handbook on Role of Women Directors.

Considering the importance accorded to appointment of Woman Director in the Board of a Company by Ministry of Corporate Affairs and Securities & Exchange Board of India, the Women Members Empowerment Directorate of ICAI along with the Corporate Laws & Corporate Governance Committee has decided to bring out a ‘Handbook on Role of Women Directors’.

The handbook also covers Important Frequently Asked Questions and excerpts of a conversation with women independent directors to equip them with the holistic view in real-life scenarios. Practical aspects to be taken care of by the directors along with the Audit committee Checklist and CSR Checklist has also been provided.

The ICAI President, CA Atul Gupta while emphasizing the Prime Minister Shri Narendra Modi’s vision of Empowering the Nation with Women-led Development, said that ICAI has always strived for excellence in its various endeavors and truly believes in the empowerment of women.

The ICAI has Women Members Empowerment Directorate at ICAI to meet its objectives of encouraging the empowerment of women in the profession of Chartered Accountancy and to ensure their more active involvement in the profession, the President added.

The requirement of at least 1 woman director on the board has opened a window of opportunity for women professionals to take an active and considerable part in the functioning of an organization. This has also created vistas of opportunity for professionals to acquire experience beyond working in traditional practice or firm. Though a Woman director has to play the role like any other director, she brings with her the compassion, practicality, and intuitiveness exclusive to her. Women directors also serve as role models, and therefore improve female employees’ performance and boost companies’ image.

“I am confident that this Background material will be of great significance and will provide assistance and motivation to our women members to become part of the decision-making process in the corporate world and acquire the position of Independent Director,” Mr. Gupta said.

Mr. Gupta appreciated the efforts put in by the Convenor & Deputy Convenor-Women Members Empowerment Directorate and Chairman & Vice-Chairman of Corporate Laws and Corporate Governance Committee of ICAI for undertaking this task and coming out with this ‘Handbook on Role of Women Directors’ providing comprehensive information in such a lucid manner.

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