The confessions by Mr.Ramalinga Raju, the founder of Satyam has come as a rude reminder to the public about the total lack of ethics and accountability among the rich elite of this nation. Be it a politician, a business man, a celebrity or an ingenious criminal, if you have money, you will always have immunity from law of the land. I wonder why Raju has not been arrested even after his confessions. Regarding the fraud itself, what were the auditors doing? The magnitude of the fraud raises serious concerns about the kind of system we have to scrutinise and verify the accounts statements furnished by the business houses. If even one among the several so called professionals did their job well, a fraud of this magnitude would not have happened.
The fact that the fraud has been going on for several years shows the complete lack of accountability towards the general public who may have invested a major chunk of their life’s savings in the stock markets.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment