The latest confessions of Satyam's boss Raju comes as a shocker. The series of events is even more shocking. The representation that this was run for many years without the auditor's notice makes me wonder whether the whole audit system is a ponzi scheme in itself, run to dupe unscruplous investors into investing in supposedly safe companies. If you can't trust the audit report then what do you trust.
Thursday, January 8, 2009
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