Greater Noida: Pitching for greater accountability and corporate governance, Comptroller and Auditor General of India Vinod Rai on Saturday said no business can sustain unless it is based on probity and integrity.
"No business can be sustainable unless based on probity and integrity," he said while addressing students at the convocation ceremony of BIMTECH here.
Asking the students to be 'ethical leaders', Rai said, "there will be time when you will have to make tough choices and that will be tough. Do not succumb to the temptation of short-term games".
He further said that the issues relating corporate governance and accountability were becoming increasingly important with the growth of economy.
"When you reach my position, don't let the prosperity judges say that when opportunity came you grabbed it and when challenges arrived, you were found wanting," he said.
Rai asked the students not to the forget the fact that they would be under constant public eye for the way they conduct themselves and therefore, "nothing wrong will go unnoticed for long".
He further said that India's macro-level policies have helped the country withstand external shocks and helped it grow at a decent pace. However, he added, there was a large number of population which were still at the bottom of the pyramid.
Rai was addressing the 24th annual convocation ceremony for PGDM students of Birla Institute of Management Technology (BIMTECH).
First Published: Saturday, March 31, 2012, 22:00