Analysis of the Satyam Fraud

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An Analysis of the Satyam Fraud

The Responsibility

The gravely concerning financial irregularities at Satyam Computer Services Ltd. elicited an admission of responsibility from its Chairman, B. Ramalinga Raju. In his communication to the Board of Directors dated September 30, 2008, he shouldered the weight of these revelations (Gaur & Kohli, 2011, pp. 8-9).

The exposure of the extensive financial malfeasance at Satyam brought to the fore the conspicuous deficiencies that permeated multiple tiers of the company's audit framework. This revelation was astounding, given that Raju and his family were associated with 327 registered companies. A significant proportion of these entities operated discreetly without public listing, thus evading the obligation to conform to established governance norms and the disclosure requisites