Friday, January 9, 2009

Satyam Fraud Should Have Been Detected

Asia Times Online reports that accounting practices for the Satyam fraud case should have been easily spotted. This comes from top accountants in Mumbai who said, "It appears from information available in the public domain that basic accounting procedures were not followed." This aligns closely with the Madoff scandal who also had dubious accounting practices that didn't go noticed until too late. When will the due diligence begin on large companies? Let us know your thoughts here or on our LinkedIn Group.

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