20 Jan The Satyam mess and Sarbanes-Oxley
The Satyam scandal continues to reverberate, with a host of competing companies aiming to pick up some U.S. business and some big firms facing questions about why they did business with the Indian outsourcer.
First, we should note that Satyam’s ADR traded on the Nasdaq. As such, the big Indian outsourced service provider was required to comply with Sarbox. Which didn’t prevent the fraud. In fact, it has has thrust PricewaterhouseCoopers onto the hot seat. How could it have signed off on the audit?