Business Commons^™

Moha Computer Services Limited: A Fraud Case, Srinivasan Ragothaman

Faculty Publications

This article describes the implementation of a “Fraud case study” in an undergraduate auditing class. The author developed an instructional case based on the financial statement fraud that occurred at Satyam Computer Services Limited (Satyam) in India. Satyam is the largest corporate fraud ($1.5 billion) in India that came to light in 2009. Ironically, Satyam in Sanskrit means “truth”. This teaching case exposes students to several auditing-related concepts: 1) corporate governance issues; 2) financial statement fraud; 3) fraud auditing (SAS No. 99); 4) ethical reasoning and utilitarian principles; 5) internal control evaluation (AS 5); and 6) regulation. This case is …

A Review And Evaluation Of Audit Quality Oversight, Srinivasan Ragothaman, Theodore Mock, Rajendra Srivastava

Faculty Publications

As a result of massive financial statement frauds at Enron, WorldCom, Tyco, Sunbeam, Waste Management, Xerox and others, the US Congress enacted the Sarbanes Oxley Act of 2002 (SOX 2002). This Act set up the Public Company Accounting Oversight Board (PCAOB) which regulates the auditing profession in the US. The PCAOB issues auditing standards, inspects audit quality and also has enforcement powers. Following the US lead, nations such as Australia, Canada, and the United Kingdom have set up national statutory bodies to monitor audit quality.

This paper summarizes the work of these national bodies and synthesizes recent reports of these …

A Review And Evaluation Of Audit Quality Oversight, Srinivasan Ragothaman, Theodore J. Mock, Rajendra P. Srivastava

Faculty Publications

As a result of massive financial statement frauds at Enron, WorldCom, Tyco, Sunbeam, Waste Management, Xerox and others, the US Congress enacted the Sarbanes Oxley Act of 2002 (SOX 2002). This Act sets up the Public Company Accounting Oversight Board (PCAOB) which regulates the auditing profession in the US. The PCAOB issues auditing standards, inspects audit quality and also has enforcement powers. Following the US lead, nations, such as, Australia, Canada, and the United Kingdom have set up national statutory bodies to monitor audit quality. This paper summarises the work of these national bodies and synthesises recent reports of these …