Problem
Use the "Corporate Accounting Fraud: A Case Study of Satyam Computers Limited" article and the internet to answer the following questions.
Be clear and detailed in all your responses to the following questions:
A. Describe the three factors of the fraud triangle. What were the pressures, opportunities, and rationalizations in the case of Satyam? What were the consequences of this fraud on different stakeholders, including Mr. Raju, investors, and employees of Satyam?
B. Describe the following situations (or instances in the case) wherein a) an action may be legal but not ethical and, b) what may be ethical is sometimes not legal. If you were in the position of Mr. Raju, what kinds of questions would be useful to ask yourself to address an ethical dilemma?
C. Describe how businesses can be profitable while being socially responsible? Discuss which companies come to your mind that do good for the society and the environment?
D. How do ethical norms differ across cultures and countries? How do regulatory bodies affect business practices?
E. What is the role of the Board of Directors, audit committees, and auditors in public companies? What could they have done to prevent this fraud?