In our constant effort to get the basics right, we here on Just to Clarify wanted to revisit the ongoing Satyam saga to look more precisely at the accounting fraud at the heart of the controversy.
What exactly did Ramalinga Raju and his colleagues do when they fudged the books? What, for instance, is so surprising about the fact that the fraud existed in the Cash and Bank Balance section?
Our guest today is Badri Pillapakkam, an investment and fund operations associate at Xander Advisors in New Delhi. Badri has also worked at Exl Services, where he worked on risk advisory, and at PriceWaterhouse Coopers India, where he worked on statutory audits and due diligence for various clients.
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