Satyam; ndia et al.

Satyam’s $1bn fraud has shaken the Indian stock market, but the scandal at the subcontinent’s fourth largest IT software exporter is a global issue. This isn’t just a tale of the risks of investing in less vigorously regulated emerging markets. Satyam’s secondary US listing meant the company was supposed to meet international standards for governance and financial reporting. Something clearly went wrong. The excuses are already flowing thick and fast. Satyam’s disgraced chairman Raju Ramalinga ...