The following questions are suitable for undergraduate and graduate courses in accounting, auditing, international accounting, and forensic accounting and auditing. These should be viewed as relatively comprehensive answers to the Satyam questions. Instructors may elect to award full credit to the extent students address the primary core of each question and partial credit if, in the instructor's judgment, the student has failed to address the primary question or has failed to provide sufficient citations where appropriate. The Satyam case study is designed to be scalable and the suggested solutions following each question are presented below.
The Securities and Exchange Commission (SEC) and New York Stock Exchange (NYSE) corporate governance guidelines over registrants maintain that “boards need to consist of a majority of independent directors.” Furthermore, the audit committee of the board must be composed of entirely independent members. The primary objectives of these guidelines are to maintain factual and perceived...
