The Hindu Business Line : `Govt regulators necessary for law enforcement'

THOUGH the Government would not like to interfere excessively in the affairs of companies, liberalisation has necessitated a stronger role for Government regulators, the Secretary of the Department of Company Affairs (DCA), Mr Vinod Dhall, said.

Regulators were necessary for speedy and effective enforcement of laws, Mr Dhall said at the National Conference on `CFOs and Corporate Governance', organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Institute of Chartered Accountants of India (ICAI).

He felt that the regulatory mechanism should be able to restore investors' confidence in the system whenever required. The role of the CFO had undergone a tremendous change, he said, adding that now they were called upon to play a much larger role in strategy and policy formulation of corporate governance.

This larger role, coupled with the changing global environment, had brought about new challenges for CFOs.

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