https://www.taxtmi.com/news?id=27507 Establishing the tone from the top is central to governance in Asset Reconstruction Companies (ARCs): board chairs, directors and chief executives must lead by example to inculcate integrity, regulatory compliance and ethical conduct. Supervision should focus on the economic substance of transactions, and ARCs must adopt a "regulation plus" approach. Boards require competent leadership, sufficient independent directors, clear role delineation with management, and diligent review of supervisory and audit reports. Independent assurance functions with direct board access are essential; dual-hatting and warehousing of stressed assets or related-party disposals without arms-length scrutiny are governance failures requiring remediation. en-us Wed, 29 May 2024 17:59:00 +0530 Wed, 29 May 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27507 Establishing the tone from the top is central to governance in Asset Reconstruction Companies (ARCs): board chairs, directors and chief executives must lead by example to inculcate integrity, regulatory compliance and ethical conduct. Supervision should focus on the economic substance of transactions, and ARCs must adopt a "regulation plus" approach. Boards require competent leadership, sufficient independent directors, clear role delineation with management, and diligent review of supervisory and audit reports. Independent assurance functions with direct board access are essential; dual-hatting and warehousing of stressed assets or related-party disposals without arms-length scrutiny are governance failures requiring remediation. News - Wed, 29 May 2024 17:59:00 +0530 https://www.taxtmi.com/news?id=27507