<h1>Corporate Social Responsibility requirement mandates annual targeted spending; complementary reforms strengthen auditor duties and board governance.</h1> The Companies Bill, 2011 modernises company law by making Corporate Social Responsibility a mandatory board obligation with preference for local spending and an implement or explain approach, strengthening auditor regulation through clarified criminal and civil liability, limits on audit appointments, partner rotation by member resolution, five year auditor terms subject to annual ratification, and refining key managerial and director governance rules including inclusion of whole time directors and harmonised retirement calculations.