1 Madan Bahsin concludes in her research paper that examined
1. Madan Bahsin concludes in her research paper that examined the fraud at Satyam that “the scandal brought to light the importance of ethics and its relevance to corporate culture.” Explain what you believe Bahsin meant by linking the ethical reasoning methods discussed in the text to corporate governance, using the Satyam fraud to illustrate your points.
2. Hofstede’s cultural values that were discussed in Chapter 1 reflect the following scores with respect to India and the U.S.

Do you believe these differences in cultural values and the discussion in the chapter about corporate governance in India can be used to explain the nature and scope of the fraud at Satyam including the involvement of Raju in the acquisition of two companies owned by his sons?
3. Briefly discuss the audit failures of PwC and its affiliates with respect to the accounting issues raised in the case including fraud risk assessment. What rules of professional conduct in the AICPA Code that was discussed in Chapter 4 were violated?
4. Research the current status of all legal action against Satyam, its officers, and the PwC auditors. What changes have occurred in the facts of the case since June2013?
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