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

[Marghanita da Cruz]

Stephen Wilson wrote:
> 
> 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?
> 
<snip>

Rules/Laws also need enforcing.  The intro to the program is interesting...

> Deakin University and the Victorian Government signed up for the project despite warnings from the World Bank about Satyam’s operations.

Makes you wonder what the world bank had to say about the Banks?

Marghanita
-- 
Marghanita da Cruz
http://www.ramin.com.au
Phone: (+61)0414 869202