Name: Mr. Hiten S. Panchal Std.: M.M.S. – I Div.: A Roll No.: 643 Sub.: Marketing Applications & Practices Project: Satyam Saga SATYAM SAGA Introduction: On 7th January‚ Wednesday‚ Satyam Computer Services Chairman B Ramalinga Raju resigns and disappears after confessing to the largest fraud of Rs. 7‚136 crore in Indian corporate history. He admitted to committing a gigantic fraud that shook corporate India and the stock markets to the core. In a letter to the board‚ Raju‚ 54‚ unburdened
Premium Mutual fund
Contemporary Management Technique John Doe ACME University Accounting and Decisions Dr. Jane Doe December 11‚ 2011 Introduction Gaining a competitive advantage in today’s business world can be challenging for any organization. The success of an organization may be measured from its critical success factors. According to Blocher‚ Stout‚ & Cokins (2010)‚ critical success factors (CSF)‚ sometimes referred as value propositions‚ represents the critical process in an organization that delivers value
Premium Balanced scorecard Strategic management
Case analysis: Case: Infosys vs Satyam. Whose wealth is maximized? 1. Synopsis: The case revolves around the accounts manipulation of Satyam Computers. It makes a comparison between two companies of the same competitive IT industry i.e Infosys and Satyam Computers. It shows how the company’s fate/ business scenario depends upon the financial vision of the CFO. The principal objective of the case is to analyze the role of a CFO in maximising shareholders’ wealth. The main objective of every
Premium Corporate governance Corporation Management
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‚ executives‚ creditors‚ institutional banks‚ regulatory bodies and even the Government. Just because regulators and Government were not directly linked to the functioning of the company they cannot deny that they were faultless or knew nothing or were not supposed to know anything. Satyam case especially
Premium Board of directors Corporate governance Audit
In early 2009 the chairman of Satyam Computer Services admitted publicly to a fraud taking place in the company. Satyam reported in the financial statements billions of dollars in profits and cash assets that never existed. The public auditor’s responsible for auditing the financial statements of Satyam Computer Services at the time was PW India‚ an affiliate of Pricewaterhouse Coopers. The Securities and Exchange Commission determined that Satyam was able to commit the financial statement fraud
Premium Auditing Financial audit Audit
Ramalinga Raju ’s shock resignation on 7 January 2009 in Hyderabad‚ India as chairman of Satyam Computer Services blew the Indian economy in general and its information technology sector in particular when he confessed fraud running into millions of dollars in a letter he wrote to the company’s board of directors (Ramachandran‚ 2009). This report is going to focus on‚ an overview of the events that happened in Satyam‚ its consequences on Satyam’s stakeholders‚ the auditors involved and their role in the
Premium Mahindra Group Mahindra Satyam International Financial Reporting Standards
Introduction Satyam Computer Services is a global IT service company with clients including Telstra‚ Coca-Cola‚ Qantas‚ NAB and Suncorp. Satyam was once a leader in IT services in India until pressures to keep up with the growing outsourcing industry overwhelmed the company. This convinced company chairman Raju to falsify operation figures‚ embezzle funds and purchase lands resulting in fraud. Raju’s admission to fraud in 2009 caused Satyam share value to drop by 70% and the collapse of the Indian
Premium
Satyam Shivam Sundram Truth Godliness Beauty Talks given from 07/11/87 am to 21/11/87 pm English Discourse series CHAPTER 1 Satyam‚ Shivam‚ Sundram 7 November 1987 am in Gautam the Buddha Auditorium Question 1 BELOVED OSHO‚ WHAT IS THE MYSTIC CONCEPTION OF ULTIMATE REALITY? Maneesha‚ the mystic’s conception of the ultimate reality is the only authentic‚ real experience. It is not a thought or a concept‚ but an existential experience. But the mystic does not deal with the
Premium If You Have to Ask Collective unconscious Truth
Question 1: Risk Management Techniques Any successful‚ healthy and/or expanding company continues to survive and remain profitable through the utilization of strong proactive risk management techniques. Generally speaking the larger the company the greater the exposure to a variety of risks‚ such as property damage‚ worker’s compensation and product liability. In order to maintain a healthy growth pattern it is eminent that a company measures‚ calculates and controls their risk. Several well-known
Free Insurance Risk management Walt Disney
Risk Management Techniques Tanjanika Seals FIN/415 November 9‚ 2011 Monica Washington There are two categories for risk assessment: Qualitative and Quantitative. Qualitative methods seek to compare the relative significance of risk facing a project in terms of the effect of their occurrence on the project outcome. Quantitative techniques attempt to determine absolute value ranges together with probability distributions for the business or project outcome and‚ consequently‚ involve more sophisticated
Premium Risk Qualitative research Decision theory