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What happened at Satyam and its impact

January 12, 2009

Analysis of:Govt. announces supersession of Satyam Board - to appoint 10 new directors | economictimes.indiatimes.com

The professionals have shown their unwillinglness to say ' NO ' when they should have said ' NO '. This means that they have not shown assertiveness. Generallyl, the persons who are experts in their fields do not succomb to the pressure to something which is totally wrong in principle. In the case of Satyam, Chief Financial Officer and the Auditors have failed to show integrity towards their profession. They have failed to show assertiveness. The problem has not taken place overnight. What happened now is the result of something brewing for several years in the past. This is based on the newspaper reports available so far upto 12/01/09.

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