PCAOB comes under fire due to India’s Enron – Satyam!
After the credit crisis, it seems that the regulators are now coming under fire. First, it was the SEC who was unable to detect anything for the Madoff’s US$50 billion scandal for which SEC’s role is unedr scrutiny. Now it is the Public Company Accounting Oversight Board (PCAOB), which oversees auditors of U.S.-traded companies. Bloomberg [...]
The report that Markopolos sent to the SEC in 2005 making a strong case that Madoff’s fund could not be operating legally. Publish at Scribd or explore others: Business financial fraud
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Satyam letter from Mr. Ramalinga Raju to its board directors admitting fraud!
January 11, 2009 No Comment
Satyam Computer Services Ltd. will have to restate earnings after the company’s founder was arrested in India’s biggest corporate fraud investigation, executives said. The CEO’s admission last week that he’d fabricated $1 billion in cash and assets sparked a record plunge in the company’s shares that wiped out $2.2 billion of investor wealth. Interestingly, Satyam’s financials are [...]
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