Only 17 per cent of boards play an active role in shaping company strategy, said a survey by the Indian School of Business (ISB). According to the survey, 83 per cent of the boards remain passive, playing no active role in the company's management.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.