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The ex-chairman of Satyam Computer and his brother are charged with making a false $1 billion cash entry. Meanwhile, the firm's just-resigned CFO reportedly attempts suicide.
Stephen Taub, CFO.com | US
January 9, 2009
The external auditors are blamed. However, is there not a limitation in their role. Once documentary evidence towards availablity of accepted internal controls are in place , can they not rely on records which apparently had been subject to internal controls. So next to the primary fraudsters, I feel that the internal auditors in the company are answerable. However, internal auditors form part of the organization. It is high time that it is made mandatory that internal audit is also conducted by qualified and approved independent firms.
Posted by karpakarajan VELLAYAN | January 10, 2009 01:17 am
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