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Raju ban gaya ….
It gives me no joy to make fun of some one facing adversity. It is ironical indeed that the promoter of a company whose name truth has admitted of having committed massive fraud. The result oriented culture has rejected the Gandhian philosophy ENDS ARE EQUALLY IMPORTANT the attitude CHALTA HAI, any thing goes ,has made people brazen.
Once a person has committed adultery , the bohemian life style of bed hopping comes naturally. What surprises is that a fraud of such magnitudes involving many persons at various levels remained hidden for so long. Further it is also a question mark on the standards of audit. I am sure that another Arthur Anderson may happen. Having made fun of sub prime crisis India inc has been presented with a equally audacious corporate scandal.
I wonder if there are skeletons in every cupboard having a mahogany exterior. What if tomorrow Infosys or liver is accused of some thing similar? The need of the hour is that instead of lingering litigation of harshad Mehta variety the scam is investigated promptly & in an objective & transparent manner the guilty (ies) not scapegoats are identified & are handed with deterrent punishment & assets are unlocked & put to productive uses.
I am sure the image of IT sector of India or India Inc. per say has taken a severe beating & lots of efforts will be required to repair the gaping hole in our credibility. I wonder what happened to the quality control policy & peer review mechanism of audit profession. I am sure a case of rotation of audit firms or a system of joint auditors will to some extant work as a check.
Also we need to have a real internal audit & an effective audit committee so that the criminal minds do not find it easy to have a band of followers to share the crumbs.
I am sure the soul of gandhiji will have many a sleep less nights
Hey raam
Satyam is neither shiv nor sundar
RSS 
Every crisis and fraud presents some opportunity to learn from mistakes. And this one is no different. In my view, some measures that may have helped detect such frauds earlier, if not prevent them altogether, include:
Mandatory change in external and internal auditors every three years.
Mandatory written confirmation of at least 80 per cent of cash balance and debtors.
Providing additional rights to auditors to contact third parties such as customers, bankers, employees directly for random verification.
Audit committee should have access to lower levels of management directly instead of restricting to CEO and CFO.
Role of audit committee should be more precisely defined and audit committee members should be held responsible.
Does it look like end of road for the accounting profession, because of involvement of such a reputed name?
No. Despite all the flaws, auditors are the only worthwhile gatekeepers representing all the stakeholders — the minority shareholders, lenders, taxman, etc. So the way out is not to point fingers at the entire profession. Instead, weak practices should be plugged and strict punitive actions should be enforced for offenders.
He was trying to sound righteous in his resignation letter by saying he did not steal One Rupee or Dollar from Satyam. Is that going to make him innocent? He is not only loosing his own reputation but also the credibility of other Indian IT companies globally.
Media will not be giving a fair treatment unless the names of key people who handled the Audits are not published. I think their internal auditors as well as the Pricewaterhouse people who handled them are equally liable.
The mightier you are ….the deeper you fall.
? what of donation to clinton foundation by amar singh food for work fame natvar singh
defalcation in bjp office. cash for vote in parliament
scams are like masala movies each one turns out to be more spicy deflecting public opinion like maga budget movie
viewers have fun, tabs picked up by others
sare ke sare beimaan fir bhi mera bharat mahan
some how i feel sorry for him
just like i feel bad for napolean or mrs gandhi
am i going nuts ?
and Btw why do you feel sorry for Napoleon and Mrs. Gandhi?
Well…. some strong suggestions from an experienced financial consultant :)
Prayers assured.