Satyam Story: Many Lessons to be Learnt Ramalingam Raju along with 2 other accused of the scandal‚ were granted bail from Supreme court on 4 November 2011 as the investigation agency CBI failed to file the chargesheet even after more than 33 months of Raju being arrested. Raju had appointed a task force to address the Maytas situation in the last few days before revealing the news of the accounting fraud. After the scandal broke‚ the then-board members elected Ram Mynampati to be Satyam’s interim
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Satyam Scam – Indian Corporate Fraud THE SATYAM SCAM… (RAJU NOT THE GENTLEMAN) India’s Enron ‚ the biggest corporate fraud of Indian History The recent disclosure by the chairman of Satyam Computers‚ Ramalinga Raju uncovered the biggest corporate fraud of India which by some has been regarded as similar to Enron. The letter sent by Raju to the board of Satyam ‚regulator‚ exchanges shocked the whole country and company’ s share at the exchanges hitted a life low of 30 from the intraday high
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Quantitative Data Analysis Project 1. a) My research question is “Does the type of community you grow up in‚ and if your parents make a special effort to expose you to other cultures‚ have an effect on how many friends you have who are gay/lesbian?” b) My dependent variable (DV) is “how many friends do you have who are gay/lesbian”‚ and my two independent variables (IV) are “type of community the respondent grew up in”‚ and “did your parents make a special effort to expose you to other cultures
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11/18/2014 Students of MSc. Financial and Managerial Accounting • Sonia Saher • Mohammad Waqas • Lu Tran Diem Trinh • Xin Wang 2 Roadmap: Introduction to Satyam and agency conflict overview Stakeholders at Satyam (presenter M. Waqas) Inadequacy in Satyam’s Corporate Governance (Presenter Trinh) Suggestions to save Satyam ship (Presenter Xin) Questions will be entertained at the end 11/18/2014 3 B. Ramalinga Raju‚ January 7th 2009 "It was like riding a tiger‚ not knowing how to get
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CASE STUDY: MARCH 2012 SEMESTER I. Analyze the case and respond to the following questions: a) Discuss the earnings management techniques employed by the management of Satyam. Earning management or creative accounting is referred to the manipulation or misrepresentation of the company’s financial earnings in order to achieve stable and positive financial position. This was achieve through directly or indirectly use of the accounting methods. Even though the manipulation may follow all
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CORPORATE GOVERNANCE ESSAY Can Corporate Governance Mechanism Prevent Corporate Fraud? Executive Summary This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud‚ thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In a more recent study‚ corporate fraud is part of earnings manipulation done outside the law and standards. Whereas‚ the activities
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Use of Data Mining in Fraud Detection Focus on ACL Hofstra University Abstract This paper explore how business data mining software are used in fraud detection. In the paper‚ we discuss the fraud‚ fraud types and cost of fraud. In order to reduce the cost of fraud‚ companies can use data mining to detect the fraud. There are two methods: focus on all transaction data and focus on particular risks. There are several data mining software on the market‚ we introduce seven
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on the tiger. But then the other said –‘did not he know from the start that it was a tiger?’ The problem with ethics in business‚ or in more open words‚ the problem with fraud in business is that people know that they are coming fraud but they are too much self-absorbed to know that they would be caught. The case Satyam fraud was an eye opener for everyone who has a part to play in the business chain – the promoters‚ employees‚ auditors (both internal and external)‚ customers‚ shareholders‚ board-members
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1. Introduction A new report has shown that almost half of the Asia-Pacific companies are confident of their internal fraud controls (Singapore Press Holdings Limited 2005). But here’s the fact: Only 16 per cent of economic crimes in the region were detected by risk-management systems. In fact‚ the vast majority of incidences of economic crime were detected by accident‚ tip-off‚ and internal and external audit (PriceWaterhouse Coopers 2003). Here in the case study of Informatics Group (Singapore)
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was thriving at its highest level back in the year of 2000. Enron employed approximately 22‚000 associates and was named “America’s most innovative company” by Fortune. However‚ under all of the bliss‚ revealed was a substantial amount of corporate fraud and corruption. The Enron scandal involved both illegal and unethical activity. Enron’s executive chose deception of the stakeholders and short-term financial gains for themselves. They were willing to destroy their personal and business reputations
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