Corporate Governance in Start-up’s and SME’s

HOW IS YOUR ENTITY DOING?

We are undertaking a study on current standards of corporate governance practices in Indian Start-ups and SME’s. Below, you will find simple questions regarding your internal policies and practices. Your responses will remain anonymous and confidential. Please click on the appropriate box and provide your comments, if any, in the Comment box provided under each section. Once completed, please click on ‘Submit’. Thank you.

INTERVIEWEE DETAILS

Entity Type *
Entity Name *
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Start-up /SME /Other *
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e-mail *
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CORPORATE GOVERNANCE

Would you say your entity –

Has a fair understanding of principles? *
Integrated them into entity’s culture? *
Complies with the principles in true spirit? *
Committed to be a good corporate citizen? *
Committed to strong ethical and integrity-based practices? *

FORMATION

Is/Has your entity –

Duly formed and registered? *
Obtained necessary licenses? *
Filed incorporation documents? *

BOARD/GOVERNING BODY

Does your Board/Governing body have -

Composition & Structure

Directors/Members as per scale and complexity of business? *
Executive directors/members? *
Non-executive directors/ members? *
Independent directors/External members? *
Women directors/ members? *
Necessary competency and expertise? *
Separation of CEO/Management from Chair of Board/ Governing Body? *
Understanding of how to read and interpret financial and non-financial statements and reports? *
Receive orientation on entity’s objectives, culture, and policies during induction? *
Criteria for retirement (rotation or other)? *

Functioning

Regular meetings as per entity’s needs? *
Opportunity for all directors/members to voice opinions freely? *
Trust between directors/members? *
Performance Evaluation process? *
Understanding of role and responsibilities? *
Access to timely and complete information, including sensitive issues? *

COMMITMENT TO ESG, CSR, DE&I AND SUSTAINABILITY

Is/Does your entity –

Focus on conducting business purposefully and not just profitably? *
In Compliance (voluntarily/ otherwise)? *
Have targets to reduce carbon emissions? *
Enforce compliance from associated entities/ third party partners? *
Internal mechanisms to verify efficacy of its programmes and initiatives? *

CONTROL ENVIRONMENT

Does/Has your entity –

Formed Committees/Core Groups to focus on specific issues (voluntarily/otherwise)? *
Linked managerial remuneration to profits? *
Pay managerial compensation commensurate with responsibilities or performance? *
Policies to disclose interests and Related Party Transactions? *
Policy on succession planning for senior management and Board? *
Identified risks and impact, and Adopted crisis management/ risk mitigation plans? *
Dedicated personnel to work on internal audit and compliance functions? *
Formed grievance redressal mechanisms (voluntarily or otherwise)? *
Committed to ethical practices and towards anti-corruption and anti-bribery? *
Conduct Secretarial audit regularly? *

DISCLOSURE & TRANSPARENCY

Would you say your entity –

Makes prompt and timely disclosures? *
Submits timely returns and statements? *
Reflects correct and true picture/ information (financial/non-financial) in its disclosures and statements? *
Issues prompt and effective communications to stakeholders? *
Has had concerns regarding financial or non-financial statements/reporting in past 3 years? *
Makes timely payment of dividends? *
Proactively shares information on website? *

STAKEHOLDER ENGAGEMENT

Would you say your entity is/has/provides –

General

Committed to develop stakeholder relationships? *
Transparent supplier/ contractor selection and management processes? *
Shareholders/Investors
Adequate measures for minority shareholders to voice opinions? *
Equitable Treatment to all shareholders? *
Intimation of basic rights to shareholders? *
Policy towards oppression and mismanagement? *
Conduct sufficient and regular meetings? *
Sufficient time to engage with shareholders during meetings? *
Permit Proxy and e-voting? *
Effective Investor Grievance Redressal Mechanism? *
Presence of all board members and auditors during general meetings? *
Employees
Provide training on culture and policies on entity? *
Educate and inform their rights and responsibilities? *
Fair policies on appointment, compensation, and termination of employees/consultants? *
Policies to address health, welfare, and safety (including on sexual harassment, whistle blower, etc.)? *

AUDITOR INDEPENDENCE

Would you say –
Auditors are independent and competent? *
Appointed on a rotation basis? *
Audit Committee is headed by an Independent/ Non-executive director? *

FINANCE, RESTRUCTURING & REGULATOR ISSUES

Does/Has your entity –

Raised finance through an IPO? *
Entered into agreements for M&As? *
Faced issue with Regulator or Govt. agency? *
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