India Seeks to Overhaul a Corporate World Rife With Fraud – DealBook

In the wake of global scandals involving kickbacks and accounting fraud, one unlikely country, India, is aiming to set a tone in overhauling its corporate oversight laws.

This month, the nation’s upper house of Parliament passed the Companies Bill, 2012, sweeping legislation meant to overhaul auditing, impose stiffer penalties for fraud and create more government oversight of businesses.

via India Seeks to Overhaul a Corporate World Rife With Fraud – DealBook