Uday Kotak-led panel on corporate governance is likely to submit its report next week.

According to ET Now sources, the panel used controversies surrounding Infosys and Tata Group as case studies and is in advanced stages of finalising the report.

The Sebi had formed the 24-member group in June that consisted of representatives of corporate India, stock exchanges, professional bodies, investor groups, chambers of commerce, law firms, academicians and research professionals and Sebi.

The group is likely to recommend a greater accountability of auditors in red-flagging discrepancies, the report said.

The committee was formed to recommend on problems relating disclosures pertaining to related party transactions, independence of Independent Directors and their active participation in functioning, issues relating to accounting and auditing practices by listed companies, effectiveness of Board Evaluation practices and addressing issues faced by investors on voting and participation in general meetings.

Besides, the committe is also likely to give suggestions on disclosure and transparency related issues and any other matter, as the Committee deems fit pertaining to corporate governance in India.