This study explores the effects of board diversity and ownership structure on accounting conservatism in India. It analyzes a sample of BSE 100-listed firmsin India from 2010 to 2024. Accounting conservatism is measured using the accrual-based modeand serves as the dependent variable in the study. The study examines several important board characteristics, including gender diversity, independence, financial expertise, and multiple directorships. It also examines the ownership structure, with a focus on managerial, institutional, and foreign ownership. Additionally, the study considers firm-specific control variables, including firm size, growth, profitability, and leverage. This study employs panel data analysis, and findings reveal that both board diversity and ownership structure have a significant impact on accounting conservatism in Indian firms. Specifically, firms with diverse boards, substantial institutional ownership, and foreign shareholding are more likely to adopt less conservative accounting practices, thereby enhancing financial transparency. However, the effectiveness of board independence remains uncertain in India due to concentrated ownership and weaker regulatory enforcement. The presence of financial expertise on the board and managerial ownership shows a negligible negative impact on accounting conservatism. In contrast, holding multiple directorships can serve as a valuable external resource, contributing to improved accounting conservatism. These findings underscore the significance of robust corporate governance frameworks and active ownership in fostering transparency and accountability in emerging markets. The study provides valuable insights for regulators, policymakers, and corporate boards seeking to improve the quality of financial reporting and protect investors in India.