Satyam Vadha – killing of the truth
As long back as in 2001, Meenakshisundaram Ezhil, a Chennai CA wrote for a leading Newspaper that all was not well with corporate governance in Satyam Computers. Today we carry a special article by him and he says it is all a matter of the Right Perspective.
The Wall Street Journal yesterday reported that this scam could lead to an overhaul of corporate-governance standards in the country and force changes in how Indian companies do business. The paper stated, “Although some leading Indian companies have become international powerhouses in recent years, the general standard of corporate ethics and accounting have traditionally been poor in India” As if it is so good in America, maybe we learnt a few lessons from them – after all it was an MNC auditing and advising Satyam, which failed to look into the bank statement which any article clerk in India would have casually done.