[LINK] Uncertain future for Satyam and Wikipedia on Corporate Governance

[Stephen Wilson]

Jan Whitaker wrote:
> At 11:09 AM 4/02/2009, Marghanita da Cruz wrote:
>   
>> ... there's definitely a greater need for more 
>> controls. There is a greater need for more scrutiny. ...
> Well, gee, does good governance and controls include that the execs 
> don't falsify their balance sheets? From what the media has been 
> reporting this was a case of fraud. Maybe 'good governance' is better 
> boards of management that are paying attention.
>
> Jan
>   
Compliance and governance are amongst the greatest business mirages of 
our time.  Sarbanes Oxley and assorted complexities were introduced 
ostensibly to avoid repeats of such as disasters as Enron. 

But governance structures are merely sets of rules.  And they only work 
when people follow the rules.  Since when did white collar criminals 
follow any rules?

Steve Wilson
www.lockstep.com.au.