IT Governance and risk consulting got a shot in the arm thanks to Satyam Inc., the latest Corporate fraud to have shaken the world.
A sense of deja vu prevails as PWC comes under the public scanner much the same way as Anderson did after the Enron revelations.
It will take frantic efforts from the corporate community to reinstate the confidence fo shareholders and employees. The Indian Government needs to relook its Governance norms for Corporates.
India needs to have its own Sarbanes Oxley Act, FISMA and Safe Harbor.
THis is just a warning shot. If appropriate measures are not taken, many Satyams are still lurking around waiting to be exposed.
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