View the step-by-step solution to:

//web.nacva.com/JFIA/Issues/JFIA-2014-1_10.

http://web.nacva.com/JFIA/Issues/JFIA-2014-1_10.pdf


5) What organizational controls including internal controls [read AS 5 from the PCAOB thoroughly before answering this] should be put in place to prevent another Satyam fraud from occurring again?

6) How did the audit firm (Price water house Coopers in India) miss the fraud? What were the weaknesses in the Indian auditing standards? 

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