Software Development And Information Technology

In the process of Satyam Scandal, there are several governance principles involved a few key components.

Black had already decided on all the Board of Directors who were involved in approval of the non-compete agreements responsibility. He had chosen his own advisors as well who also were advisors for the Board of Directors and they were ready to take anything. Black had already suggested his advisors to deny all the illegal activity he was doing. The BOD should not be held responsible because they were only going off the data and advice of the advisors who were responsible for the agreements including Black himself. There were few stakeholders involved before being revealed to the public they include Conrad Black, CEO, his friend Raider, and the advisors who were doing a job under Black’s leadership.

With so much power within the organization of their business, both men had the ability to commit fraud. Because of their position within the company, they misstated revenues and mislead investors. Revenue recognition

The case was analysed by multiple research accountants and the reason behind it was the intention of Scrushy to make the investor content with the financial abilities of the company along with obtaining more and more investment without any optimum yield. Scrushy was charged with the accounting fraud in 2003 of March(Beam & Warner, 2009, p.56)., more reasons were unfolded by the SEA-Securities Exchange Act about Scrushy and his posting of the company’s large loss in order to achieve a high stock sell.

During the time of falsifying balance sheets and income statements, the managers were the ones that received the majority of the bonuses, 12.8 million dollars each. Basically, the liabilities were placed as revenues because at this time, Nortel’s stock was plummeting, leaving the manager’s hopeless. Manipulating the financial statements, overstating revenues triggered the extra bonuses for the Dunn, Gollogy and Beatty. A key example includes at one point, Nortel had 189 million dollars of liabilities, but only showed 80 million dollars of liabilities, converting the rest to revenues. During the same time period of the scandal, the business’s stock was still decreasing in value as each year passed. While stocks were decreasing in price, Nortel’s false profitability, made it seem as if they were still a profitable business, but simply was not. When the three main managers were trialed, the external auditors, Touche and Deloitte, were fired for not providing accurate financial statements and holding them back from the accounting firm during the period of the scandal. The second scandal, includes Nortel using bill and hold transactions. When a product is sold, the revenue that is earned cannot be recorded, unless the customer gives the seller permission to, which would be a bill and hold transaction. Nortel, having other plans, did the bill and hold transaction continuously by their own will.

The opportunity for the accounting fraud was created by Bernie Ebbers by way of his management style. As previously stated, Ebbers was able to attract admirers to the Board of Directors and his management team. Ebbers was a “powerful leader” responsible for creating a culture in which he and Scott Sullivan were not to be questioned. The Board of Directors and the Human Resources did not want to have to confront Ebbers. As a result, Ebbers went unchecked and was able to do as he pleased. If Ebbers wanted numbers met, his

Tom Padgett made the affirmations and management of the company gave the papers, yet every source was included in the fraud.

The fraud was very simple at its base; the idea was to allow the employees of CUC International and later Cendant to

The following caselet is a clear example of intra organizational conflict where Rahul Yadav invested around 100 crore in an AD Campaign that was not considered to be a smart move by majority of the investors which led to sort of resentment between Housing .com and investors. In another move Rahul Yadav decision of acquiring Prop Equity was not supported by the investors. The following incidences hampers the relationship and confidence that Rahul Yadav as a CEO enjoyed over the years

When these issues came to light, the chairman of Satyam Computer Services Ltd, Mr. Ramalinga Raju, admitted to the distortion and misrepresentation of the company’s revenues and assets. Additionally, he tendered his resignation from the company as he was the principal driving force behind the issues that were

These people had the chance to cheat millions from the organization and they exploited that for quite a long while before being halted. These were the top executives at Tyco so in spite of the fact that others comprehended what was going on, they didn't approach and confront the administrators committing swindle. The internal controls set up were insufficient to prevent the extortion and fraud from happening and on the grounds that the tone from the top inside of the company was that conduct of that sort was alright, others didn't approach to stop it either. The legitimization utilized by the culprits could have been that they buckled down for the organization and in this manner merited the additional remuneration. Likewise, they may have thought they would in the long run pay it back. General however, the primary inspiration in the scandal was

There were a huge number of stakeholders involved in this fraud. Due to illegal transactions, there was a huge opportunity for certain parties to benefit from this which ultimately led to tremendous financial losses

Computers are a tool that we as human beings are learning to use and are accustomed to. Humans are relying on them more and more everyday to get them to their destination or to make an important phone call to mom. Computer software engineers are the people that make the computers and mobile devices able to be used. Without software a computer or mobile device is just a piece of metal or plastic like a paperweight. Windows and Mac OS were designed by these people. Computer software engineers are becoming more needed throughout the computer driven United States and other countries.

frauds in India ever happen. there was a reason why this scandal got the name “Satyam”

Satyam in other name“truth” revealed the untrue side and destroyed all hopes of shareholder whom they invested they’re money in the company—by fraudelant misstatement, negligence, and complicit with companies independent auditors the PwC. Conflict of interest can be prevented if the company follow their duties as an agent of principle—doing what is opposite will result only in unknown consequences. Maintaining good corporate governance is really important, this shows the shareholders and other factors that the company represent 100% integrity in their financials {no irregularrities + no frauds = Satyam}.Stronger corporate governance can only be acquired if shareholders elects the right management, and carefully selecting management will only result in Outstanding Profits (Other threatning strategies from shareholders can be imposed to prevent agency problems). The aftermath of satyam incident was effective in terms of maintaining better corporate governance in future not just for satyam but the entire industry aswell. If one company ended up in becoming the new enron of the industry, this will ruin the entire reputation of the industry—which leads to low future investment within the country. Investors will only look up-to a healthy industry—unhealthy industry will not easily recover after being