Coforge has disclosed that its internal auditor identified observations concerning the board evaluation process for the financial year 25-26. The review noted that reports and findings were not fully shared with all board members, including independent directors, and that the Chairman’s low rating was not disclosed. The company states the audit review is ongoing and reaffirms its commitment to transparency.
Internal Audit Review of Board Evaluation Process
Coforge Limited announced on September 10, 2026, that its internal auditor has reviewed aspects of the company’s board evaluation process for the financial year 25-26. This review was conducted as part of the company’s internal control framework and its annual internal audit plan, which was finalized in April 2026 for FY27.
Key Observations from Internal Audit
The internal audit scope specifically included areas such as “Hire-to-Retire” and “Accuracy and Completeness of Board reporting (BR)”. In connection with the board evaluation process, the internal auditor considered reports regarding the sharing and presentation of findings to the Board and the Nomination and Remuneration Committee (NRC). It is important to note that this review was focused on governance processes and not on the company’s financial statements or reporting.
According to the internal auditor’s observations, the relevant reports from the board evaluation were made available only to the NRC Chair and the Chairman of the Board, and not to other board members, including independent directors, at the instruction of the Chairman. Furthermore, the internal auditor noted that the manner in which the evaluation findings were presented (without sharing copies of the reports) by the Chairman and the NRC Chair to the NRC and the Board did not cover all relevant aspects and findings. A significant observation was that the Chairman’s category received the lowest rating in the reports, but this finding was not disclosed or discussed before the NRC or the Board by the NRC Chair and the Chairman.
Ongoing Review and Commitment to Transparency
Coforge stated that the internal audit and governance review remains ongoing. The company reiterated its commitment to ensuring that its governance processes are transparent. This disclosure is made for the information of the stock exchanges and the company’s members.
Source: BSE
