Prevent recurrence of financial scams: ANU VC

Acharya Nagarjuna University Vice Chancellor V Viyyanna Rao on Wednesday underlined the need for transparency in financial and non-financial matters for effective corporate governance.

Speaking at the valedictory of a two-day national seminar on `Corporate Governance in India and Challenges’ organised by Commerce students of Sri Durga Malleswara Siddhartha Mahila Kalasala, in collaboration with the Andhra Chambers of Commerce and Industry Federation, he said that laws meant for regulation of illegal activities and unethical practices of corporates were not being enforced effectively in the country.

“Whenever a major financial scam occurs in the country, the government makes a clamour that the guilty would be punished. Later, it will subside with the passage of time and the unscrupulous corporates resume their illegal activities.

Focus should be laid on effective enforcement of laws to prevent recurrence of financial frauds in the country,’’ the Vice Chancellor said.

College principal T Vijayalakshmi, commerce department head and seminar coordinator T Rama Devi and other faculty members were present.