Please complete and upload Critical Thinking Assignment #8 based on the Fraud Casebook entry on Satyam
The Satyam Scandal Read the following articles or other related articles regarding the Satyam case and then answer the questions below:
Kahn, Jeremy, New York Times, “Founder of Indian Company Interrogated,” January 11, 2009.
Raju, B. Ramalinga, “Text of Ramalinga Raju’s Letter to Satyam Board.” Msn.com, January 7, 2009.
Cunningham, Lawrence (blogger), “Satyam Fraud’s Systemic Regulatory Implications, January 8, 2009
Short Answer Questions
1. In January 2009, approximately how many employees did Satyam Computer Services employ?
2. What is the primary business of Satyam Computer Services Ltd? 3. When the fraud was revealed who took control of the company?
4. How much money did the Raju’s earn from sales of Satyam stock in the eight years preceding the fraud revelation?
5. How many board members did Ramalinga Raju implicate in the fraud?
6. What was the cash balance sheet amount and how much cash actually existed in the Satyam’s bank accounts?
1. Opinion: Do you believe that fraud in the United States is more or less prevalent than fraud in countries outside the United States? Why?
In the case of Satyam, the company reported almost $1 billion in cash balances, yet close to $900 million was missing. Two questions:
2. How would a fraudster conceal missing cash, especially amounts of this magnitude?
3. How would an audit not catch missing cash amounts of this magnitude?
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