Ethics is the true basic essence in business, according to Dr P. Tamilvanan, Chairman of New Mangalore Port Trust. Delivering the keynote address at the seminar on ‘Ethics, governance and IFRS’, organised by SDM College at Ujire in Dakshina Kannada district on Friday, he said ethics is a moral behaviour, which basically takes its initiative from the respective homes.
Stating that it is high time to discuss about ethics, he said many of the business organisations have lost it.
“Since prosperity is the major symptom of each Indian, we need to follow pure essence to move a step ahead,” he said.
Speaking on the occasion, Prof S. Prabhakar, Vice-President of SDM Education Society, Ujire, said ethics and governance are the part and parcel of Indian culture.
Welcoming the gathering, Prof P.N. Udaya Chandra, Registrar of the college and head of the Commerce Department, said the objective of the seminar is to create awareness amongst academicians, researchers and professionals about the changing scenario of business practices, and to publicise the importance of ethical practices in financial reporting to prevent the future business scams and financial crisis.
The seminar will also educate the educators about the significance of corporate governance and its subtle linkages with International Financial Reporting Standards, he added.
Source: The Hindu Businessline