Letter to BS: Markets need a defensive approach towards trade malpractices

While auditors have an accountability to ensure that firms address non-conformances to mitigate risks of delinquency, safeguard interests of novice-investors, generate value for stakeholders and improve transparency — the buck also stops at clients to preserve market-goodwill and attain business-continuity.

Proposals to develop a rule-based, intelligent and robust framework to overcome incidents of data-security breach and default-risks is a prudent step to facilitate a business culture where teething troubles are suppressed at source. The last thing that markets need is a defensive approach towards subprime-lending, lapse in information-security, redundant corporate actions and trade-malpractices.

Girish Lalwani, New Delhi