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Indian Social Values – Root of Corruption
Page three newspapers are full of celebrities’ rave parties, fist fights, sex scandals, botox treatments, etceteras. The not so rich idealize these celebrities and mimic all, to be the in-crowd. With...
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An Update of Adidas India Euro 125 Million Fraud Story
In the last couple of weeks, some startling information was revealed by the media about the fraud. To recap, Adidas global management disclosed euro 125 million (Rs 870 crore, USD 157.68 million) fraud...
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SEBI Revises Consent Process
While Rajat Gupta, ex-board member of Goldman Sachs is facing the trial by fire on insider trading charges in US, Stock Exchange Board of India (SEBI) has tightened the screws on the consent process...
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LIBOR Scandal – What Went Wrong?
This week Barclays Plc made banking history for the wrong reasons. The unheard occurred – the chairman, chief executive officer and chief operating officer – all resigned within one week. While...
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Why Auditors Fail To Detect Frauds?
When media reports a new fraud, the first few thoughts of public are – “What were the auditors doing? How did they miss it? Were they involved?” The auditors get labelled as morons, conspirators or...
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Coal Gate Scam – Should Auditors Comment on Policy Decisions?
The Coal Gate Scam report has squarely put the loss of Rs. 1.86 lakh crores (USD 35. 097 billion) at the Prime Ministers door. Comptroller and Auditor General (CAG) report states that Prime Minister...
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Missing Men of Honor
The Story of Disgrace A wave of shame and disgrace washed over Indian Premier League’s (IPL) Rajasthan Royals team. Three players of the team – S Sreesanth, Ajit Chandila and Ankeet Chavan – were...
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Satyagraha For Freedom From Corruption
Gandhi ji, in his book “History of Satyagraha in South Africa” narrates the coinage of the term Satyagraha and the journey of the movement. It is an amazing story of sacrifice, determination, and moral...
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Impact of Political Will and Cornism on Risks
The Indian government is doing an about-face in respect to its stance on aviation industry. The government is looking at a proposal to allow 49% investment in Indian airline companies by foreign...
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Adidas India Euro 125 Million Fraud Story
The traders of good soles appear to have sold their souls. Adidas has filed a criminal complaint for euro 125 million irregularities reported in Indian operations in the first quarter results of 2012....
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