After Satyam Fiasco in the market,Investor must asked from FM,insurance to the portfolio in Equity they hold?Market Fluctuation part and parcel of Game,Market manipulation is cheating and fraud under such circumstance Investor confidence could be restore by providing them Innovative tools of Insurance for thier investment in equity?
2 Replies
CA Sudhir Halakhandi
(PRACTICING CHARTERED ACCOUNTANT)
(13401 Points)
Replied 15 January 2009
YA!!! GOOD SUGGESTION!!
shailesh agarwal
(professional accountant)
(7642 Points)
Replied 15 January 2009
Investors raise questions over PwC Satyam audit
UPDATES · Tags: Online NEWS Rhys Blakely in Mumbai Furious Indian investors are demanding to know how PricewaterhouseCoopers (PwC), one of the world’s largest accountancy firms, missed a systematic £1 billion fraud at Satyam, the IT outsourcing giant, for as long as seven years. In contrast, Merrill Lynch, the US bank, became aware of the deception in just ten days. PwC’s role in “India’s Enron” comes under the spotlight amid allegations that large Indian companies regularly use misleading accounting techniques and bully analysts, accountants and auditors into staying quiet. B. Ramalinga Raju, the former chairman of Satyam, shocked corporate India on Wednesday when he confessed to inflating the company’s profitability, which led to more than £1 billion in fictitious cash and other assets on its books.
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