Satyam Case - 1707 Words

CASE STUDY: MARCH 2012 SEMESTER I. Analyze the case and respond to the following questions: a) Discuss the earnings management techniques employed by the management of Satyam. Earning management or creative accounting is referred to the manipulation or misrepresentation of the company’s financial earnings in order to achieve stable and positive financial position. This was achieve through directly or indirectly use of the accounting methods. Even though the manipulation may follow all the accounting standards and laws, they may go opposite of what the standards and laws were originally trying to establish. Therefore, earning management is often considered materially misleading and referred to a fraudulent activity. Satyam†¦show more content†¦Because of the pressure situation, he finally decided to come into decision to manipulate the company’s earnings and engaged in fraudulent activities. The other factor that motivated Satyam to manage their earnings is due to the need to maintain a competitive position within the financial market. Satyam Computer Services is among of the top leading company in Indian IT industry. If Satyam fails to shows that company is operating in profitable manner and he discloses the real loss of the company it will cause the investors and public loss confidence in them. Therefore, they will not be able to place the company’s name as the leading company of IT services and unable to compete with the other top leading IT companies. Because of this reason, Ramalingam Raju had engaged in fraudulent activities. In addition, factors that may motivate managers of Satyam want to manage their earnings is because of their personal gains such as bonus and they might be belief that the laws and regulations can be easily be bypassed. The managers will be rewarded with bonus if the company shows a high profit. So in order to get the bonus Satyam was motivated to commit fraud. Since earning management was a complex techniques that are not easily to trace, this make Satyam feel confident that involving in earning management will not be caught. But as the consequences, due to too much gap between the real earnings figures with the reported earnings figures, Satyam was not be able to hide theShow MoreRelatedSatyam Fraud Case1505 Words   |  7 PagesViews on the Satyam fraud case: Before writing this report, I read some articles from The Economic Times, The Times of India, The Hindu and a blog by Shweta Rajpal. In this report, I have tried to figure out what the scam is all about, how it happened, why it was done and the aftermath, exploring corporate governance issues simultaneously. The ‘What’ of the scam: The Satyam scam has been as the Enron scam of India. So one can only imagine the magnitude of wrongdoing and deception. The downfallRead MoreSatyam Case Study992 Words   |  4 PagesIn early 2009 the chairman of Satyam Computer Services admitted publicly to a fraud taking place in the company. Satyam reported in the financial statements billions of dollars in profits and cash assets that never existed. The public auditor’s responsible for auditing the financial statements of Satyam Computer Services at the time was PW India, an affiliate of Pricewaterhouse Coopers. The Securities and Exchange Commission determined that Satyam was able to commit the financial statement fraudRead MoreCase Study : The Satyam Scam799 Words   |  4 PagesAishwarya Gokhale The Satyam Scam Studies suggest that there are four basic factors that lead to fraud. First, is the opportunity to commit fraud, second, the incentive to commit fraud, third, the rationalization of the fraudulent act and fourth, the capability to commit the fraud. Satyam Computer Services Limited was a global consulting and IT services company, offering a wide range of solutions, from strategy consulting to implementing IT solutions for customers. Byrraju Ramalinga Raju was theRead MoreSatyam : India s Growing Success Essay1041 Words   |  5 PagesSATYAM COMPUTER SCAM Satyam Computer Services Limited was formed in 1987 in Hyderabad (India) by Mr. Ramalinga Raju. The firm began with 20 employees and grew rapidly as a ‘global’ business. It offered IT and business process outsourcing (BPO) services spanning various sectors. Satyam was as an example of â€Å"India’s growing success.† Satyam won numerous awards for innovation, governance, and corporate accountability. From 2003-2008, the company grew measurably. Satyam generated Rs. 25,415.4 millionRead MoreThe Five Case Studies : A Pre Knowledge And Skills Needs Assessment At The Newport, California Hospital1942 Words   |  8 PagesThe five case studies focus on different needs which, as the following analysis indicates, can be grouped under four broad categories;Learning needs, operational or tactical needs and strategic needs. Learning needs:These are gaps in knowledge and skills between the current and the desired conditions. An example is the needs assessment conducted at the Newport,California hospital . The author, Judy conducted a pre Knowledge and skills needs assessment to analyse the areas to be focussed . She alsoRead MoreSoftware Development And Information Technology932 Words   |  4 Pages Satyam Computers Limited is a consulting firm in the software development and information technology (IT) fields. They are based out of India and were founded by two brothers, B. Rama Raju and B. Ramalinga Raju. Although they received numerous awards for their exceptional corporate governance practices they perpetrated one of the biggest frauds in history. At its core, the fraud occurred when Ramalinga Raju inflated the numbers in Satyam’s financial statements in order for the company to look moreRead MoreComputer Services Scandal And The Media Scandal Essay1244 Words   |  5 PagesOne day while enjoying Sunday morning, I have been reading a newspaper mean while my focus goes on a major news about Mr.Ramalinga Raju sent to jail and fine imposed 7 Crore on him then I was curious to know about the famous Satyam scam also known as Computer Services  scandal, and   quot;India#39;s Enronquot;(Enron was a US based company which was inflicted with a similar accounting fraud)the news grab by attraction I was eagerly starts reading that news and I was completely shocked afterRead MoreThe Governance Structure At Satyam1407 Words   |  6 Pages Question 1: Describe the governance Structure at Satyam. What was the â€Å"tone- at- the-top† at Satyam during the fraud period? The meaning of governance structure according to the business dictionary is â€Å"the framework of rules and practices by which a board of director ensures accountability, fairness, and transparency in a company’s relationship with its all stakeholders.†(Business Dictionary) Satyam has failed to show a proper governed structure because their frauds. They faked their accountsRead More‘Satyam – the Enron of India’999 Words   |  4 PagesINTRODUCTION The case study ‘Satyam – the Enron of India’ looks at Satyam Computer Services Limited and its involvement in corporate fraud leading to one of India’s largest white-collar crimes. The Satyam scandal marks as one of India’s biggest corporate scandals where its stakeholders were continually fed misleading financial information from its late chairman Ramalinga Raju. This once promising, global IT company provided its services for some of the largest companies in Australia and the UnitedRead MoreAFM 351 Satyam Fraud822 Words   |  4 PagesAFM   351:   Audit   Strategies    Satyam Fraud: A case of India’s Enron    1. Describe the governance structure at Satyam. What was the â€Å"tone-at-the-top† at Satyam during the fraud period? †¢ †¢ †¢ †¢ †¢ †¢ †¢ 2. In terms of the confirmation of cash balances, what deficiencies can you identify in terms of the procedures followed in the Satyam engagement? †¢ †¢ †¢ †¢ 3. Ramalinga Raju was the Chairman of the Board His brother, Rama Raju, was the Managing Director and CEO They both had direct operational

Modern Philosophies Contrasting Terms - 1225 Words

The Cogito, ergo sum expression dominates a series of philosophical topics and Descartes is probably one of the most passionate philosophers to discus in regard to it across time. However, many philosophers prefer the Volo, ergo sum expression and actually consider that it expresses the willed effort that makes it possible for individuals to understand the existence of the mind. Although philosophy and business are not exactly in a close relationship, the two have always managed to function together as a result of the fact that individuals in the workplace needed to be addressed through the correct channels. Managers come across more and more critical life issues that can affect their business environment and thus need to be provided with philosophical teachings meant to assist them in experiencing as little negative effects as possible. Managers in the contemporary society need to acknowledge that they are the ones in charge of the working environment and that it is essential for them to get actively involved in making it more productive, even if this means that they would need to direct their attention towards concepts that are not considered traditional in the field of management. Managers are apparently the most effective when they realize that it is their job to focus on the larger social environment in trying to do their job. Managing is thus not all about the business world and a successful manager would need to concentrate on more than just achieving successShow MoreRelatedTheories of Human Nature 670 Words   |  3 Pages The theme of this course is theories of human nature, theories of human nature is an historical scope of philosophy. Theories of human nature provides a philosophical analysis into human nature through the investigation of issues, including the mind and body, perceptions and conception, freedom and determinism, death and immortality, the relation of the human to nature and the divine, and reason and emotion (Professor Galgan, Course Syllabus). The two articles written by Dr. Galgan, â€Å"Infinity andRead MoreWhat ´s Deconstruvist Architecture? Essay1015 Words   |  5 PagesRem Koolhaas, Daniel Liebeskind, Frank Gehry and Zaha Hadid. Modern day ‘starchitects’ who - through their practice of deconstructivist architecture - have heavily influenced the overall approach to today’s architecture. But what exactly is deconstructivist architecture? Is it a derivative of postmodernist principles, or something of its own entirety? Through the analysis of particular mod ern day architects and their works, deconstructivism ascertains its emergence as a separate architectural formRead MoreReconciling Moral Theories889 Words   |  4 Pagesdetermining the compatibility of their particulars can be a daunting task. Determining the compatibility of John Stuart Mill’s modern moral theory of utilitarianism with Aristotle’s pre-modern moral philosophy will involve an in-depth exploration for each moral philosophy, comparing and contrasting the smallest details of each. To start, an understanding of Aristotelian moral philosophy is fundamental. Aristotle basesd his theory on the concepts of â€Å"virtue,† coming from the Greek word â€Å"arà ªte† meaning â€Å"excellence†Read MoreThinking Outside the Box of Christianity Essay1130 Words   |  5 Pagesunorthodox perspectives, for example, Max Demian’s contrasting interpretation of the story of Cain and Abel, he is forced to challenge some of his beliefs. Also, when Emil starts to develop desires that conflict with his Christian observance he is compelled to decide whether or not to stay faithful to his beliefs. Although Christianity is a significant factor that influences Emil Sinclair’s thought process and actions, ultimately it is the contrasting and distinct viewpoints that help Sinclair determineRead MoreNationalism And The National Mold Of The Majority Faction957 Words   |  4 PagesWhen Americans think of nationalism, most conjecture visions of high-flying flags, soldiers returning from war, and a montage of red, white and blue. Some envision fireworks on the Fourth of July, or a hometown parade on Memorial Day. To many, the term â€Å"nationalism,† is just a synonym for â€Å"patriotism,† or the emotional allegiance one feels to his or her country. But in fact, nationalism carries a wholly different meaning, one that has earned a negative connotation especially over the past few centuriesRead MoreRace, Feminism, And Marxism1032 Words   |  5 PagesPolitical philosophy is the use of philosophical analysis skills when applied to politics. (Abate, â€Å"Political Philosophy†) There are various subtopics discussed among philosophers including the state, justice, and its necessity in the state. In order to discuss such topics, we must first know what justice is. To be just or unjust can be defined in a variety of ways by different people whose outlooks come from completely contrasting perspectives. In this essay I will look at defining justice fromRead MoreThe Four Humors And Their Influence Through Time1430 Words   |  6 Pagesand chemistry. The continuation of humors began with Galen of Pergamon, a Greek surgeon, physician, and philosopher who lived in the Roman Empire, who influenced the development of many different scientific disciplines, such as anatomy, neurology, philosophy, and pathology. Much of his understanding of anatomy and medicine, however, came from the theory of humorism, or the four humors. Shortly after Hippocrates introduced the idea, Galen added onto it, stating that when one the scale between the fourRead MorePostmodernism : Modernism And Postmodernism1549 Words   |  7 PagesModernism and Postmodernism To begin with, to determine the meaning of postmodernism is possible only through the relationship with modernism. Modernism in modern science is understood as a kind of cultural consciousness, which is implemented in the artistic practice of symbolism, expressionism and acmeism. In the socio-historical context, it means the period of modernism in the development of culture from the late nineteenth to mid-twentieth century, that is, from Impressionism to a new novel andRead MoreThe Prophet, Muhammad, Islam1349 Words   |  6 PagesBible, comprising of the Jewish Bible and the New Testament. The Christian Bible is constructed from the Old and New Testament. Thus, the two contrasting religions exemplify the same text, The New Testament. Politically speaking, in both spiritualities the religion is separate from the state, or government. Whereas theses comparisons are still veracious, contrasting aspects still prevail. Although for Christianity the church is detached from the state, a t specified times the pope was held at a higherRead MorePlato And Platos Theory Of A Just Society1122 Words   |  5 PagesThe cultivation and expression of justice is a pillar in the classical tradition of Greek philosophy. Plato was one of the first contributors to the many theories surrounding justice. Over the course of history many individuals expanded on his ideas to form their own theories. Of these individuals, many supported a utilitarian outlook. Jeremy Bentham, one of the earliest utilitarian’s, devised many theories on justice that are still held to high esteem today. These theories share much similarity

The ramayana Free Essays

Equality is a state men and women will never agree on. Standards for both genders vary when compared. The differences between the genders are clearly shown in The Ramayana. We will write a custom essay sample on The ramayana or any similar topic only for you Order Now Women are Judged by their beauty. A perfect woman must be beautiful and loyal to her husband. Men are not only Judged by their beauty, but also by their strength. Because women are often considered the weaker sex, men are expected to protect the women. Everything about a woman revolves around her appearance. Women are Judged by their appearances. Beauty is the first aspect a man notices when meeting a woman. Sita is â€Å"a woman of unearthly beauty’ (Narayan 76). Rama falls in love at first sight with Sita and Ravana falls in love with the mere description of Sita. This shows how significant a woman’s appearance is in The Ramayana. Before anything else is taken into consideration, beauty will always stand first. One’s personality is determined by how beautiful one is. It is believed that with beauty, comes good things such as loyalty and kindness. The rest of a woman’s personality follows through after beauty. Because Sita is beautiful, she is also assumed to be loyal, trustworthy, and polite. After all, everything about a woman comes in a package. Ugly women have different stereotypical traits. Women who are considered ugly are the exact opposite of Sita. Kooni is not a positive influence on any of the characters in The Ramayana. â€Å"Kooni [has a] deformity (Narayan 116). † Her hunched back is considered an imperfection, which goes against the stereotypical portrayal of women at the time. As said before, beauty is the root of a woman’s personality. Kooni goes against the standard for women at the time, which makes her evil and manipulative. Kooni’s outer appearance determines how everyone else sees her as in heir own eyes. The significance in explaining beauty is that everything was based on a woman’s beauty. From how they acted to how they treated, everything revolved around how beautiful a woman was. Portrayed as the weaker one, women do not have much ground. Rama immediately rejects Sita after he saves her. She needs to reach the brink of death in order for her to be trusted. Sita â€Å"light[s] a fire†¦ on [the] spot (Narayan 161)† and jumps in. Only when the great god of fire presents Sita with words of blessing did Rama welcome her back. This shows how women are never given the benefit of the doubt. Women are always accused of being guilty before innocent. Because men have more power in society, men are the ones who are assumed to be innocent not guilty. Men will always have the upper hand in society. If there was a dispute between a man and a woman, the man would be in favor of winning Just because he is the gender that is more respected by all. Men’s power is shown through how well he is able to protect women. It is their duty to protect women. Although Vali’s brother is his enemy, â€Å"[he] still wanted to protect and help his wife when he was gone (Narayan 110). † Protecting women is top priority†no matter what the situation is. Vali and Sugreeva hate each other. They are always neck and neck with one another. When it comes to protecting Sugreeva’s wife, Vali is able to put his feud between Sugreeva to the side and happily guard Sugreeva’s wife. This is significant because it shows how women were more valued in society, but treated with less respect. Men The roles for the different genders in The Ramayana are different. Women are known for their beauty while a man’s status is portrayed through how well he can protect a woman. Both relate to the strength and appearance one has on the outside. All other traits follow what is physically seen. How to cite The ramayana, Papers

Name Security Vulnerability Eternal Rocks †Myassignmenthelp.Com

Question: Discuss About The Name Of The Security Vulnerability Eternal Rocks? Answer: Introducation A serious and very dangerous ransomware that has been generally identified as the next evolution of the previously used WannaCry group of ransomware. Similar to WannaCry, EternalRocks may encrypt the host files of the systems it infects however, it's said to be stronger than its predecessor which had many operational loopholes thus was easier to slow down and even circumvent (Trend micro, 2017). In lights of this new threat, the profile below analyses risks of the threat and provides a detailed account of the systems it attacks as well as the exploitation and mitigation procedures. Systems that are attacked Discovered by Croatian ICT expert by the name Miroslav Stamper, EternalRocks operations like any other worm where its propagation is led by the flaws seen in the SMB protocol i.e. the so called EternalBlue flaws (Paganini, 2017). Now, the SMB (Server Message Block) protocol is a file sharing protocol that is used by Microsoft Windows systems to transfer files (data) over networks. The protocol is mostly used in the application layer where it serves as presentation protocol for the transferred data. Therefore, based on the protocol that the ransomware exploits, this threat is purely based on Windows systems i.e. servers and PC that use Windows operating systems. EternalRocks also seem to hold a deeper malicious intention as it lays dormant in machines awaiting future instructions that could basically weaponise it. In essence, unlike WannaCry which deliberately encrypted files or infected machines with malware to form botnets, EternalRocks in its newly discovered form infects machines and awaits other commands that could activate it in the future (Microsoft, 2017). Furthermore, it lacks an all-inclusive kill switch, similar to the one used to mitigate the attacks presented by WannaCry which further increases its severity. In addition to this, Eternal Blue (the Microsoft Windows vulnerability) has a 24 hours delay timer for its activation which has increasingly frustrated the studies of understanding the malware. Attack procedure First and foremost, the threat (EternalRocks) disguises itself as the old and controllable WannaCry worm. In the process, the mitigation procedures used are then focused on ransomware attacks, however, the infected computers are compromised and are used to power other background attacks, which may not necessarily include ransomware attacks (Paganini, 2017). Furthermore, based on the NSAs hacking tools, EternalRocks uses seven of the exploits leaked in the past by the Shadow Brokers (a group of black hats). These exploits include; EternalBlue, eternal romance, ArchTouch, and DoublePulsar among many others. Now, based on the researchers findings, the malware will download a series of these exploits into the host machines and then use the infected computers to explore the internet for unprotected SMB ports. These exploits may serve a common purpose of compromising the affected systems however, they do not operate in the same procedures. For instance, the DoublePulsar is used to implement network capabilities based on its networking exploits. On the other hand, ArchTouch is primarily used as a reconnaissance tool for SMB ports. However, EternalRocks heavily focuses on the EternalBlue exploits where the following attack procedure is used: First, the identification of a vulnerable system having an open and unpatched port. This step is executed randomly across the internet or towards a certain network targeted by the attackers. Activation of the remote code is done using the EternalBlue exploit. A DoublePulsar doorway is uploaded into the infected system, this doorway is used for business subsequent attacks. A payload, having the actual infection is uploaded using the back door created using the DoublePulsar exploit. This payload maybe a ransomware or even a botnet worm that could effectively hide from the visible system. Finally, an extension code that replicates in other systems is introduced which helps the attack continue on its own without human intervention. Essentially, it is this last step that makes most attacks dangerous as they can infinitely replicate themselves into many other connected systems (Cylance, 2017). At an operational level, this attack procedure may seem too vague to understand which necessitates the practical procedure identified by the threat researchers. In their attempt to understand the threat, a honeypot containing the Windows SMB exploits was used yielding the following results. First, EternalRocks downloaded a Tor web browser to the infected system, this step was achieved using UpdateInstaller.exe malware plus .Net parameters. Moreover, the web application was then used to connect to the CC (Command and control) server which is usually hosted in the Tor networks. Finally, the attack procedures were delayed by 24 hours in order to avoid the mitigation procedures implemented for other similar attacks i.e. the sandboxing mitigation techniques (Paganini, 2017). Mitigation procedure One thing stands outs in this analysis that of unprotected ports i.e. unpatched ports. The risk of this vulnerability to any organization is exponentially high as so many attacks can be conducted once the exploits identified above are successfully used. For one, an organization risk losing control over their system as they can be remotely accessed. Secondly, the same organizations system (machines) can be used as botnet thus lowering their productivity and in the process partake in illegal activities. Finally, consider the back door opened by the EternalRocks threat where other attacks such as ransomware can be used to exploit the users. These risks outline the serious threat faced by organizations that lack the necessary mitigation procedures, which in this case is patched systems, where system administrators should install the necessary system revisions introduced by Windows themselves. Furthermore, the same organizations should protect their network ports using all the necessary s ecurity procedures i.e. access control, firewalls and intrusion systems among others (Trend Micro, 2017). Conclusion Reflecting back on the analysis conducted so far by worldwide researchers, the EternalRocks threat as a whole seem to infect global systems without any form of distinction, which clearly places it in the international technology security scene. Furthermore, similar to other cyber-attacks, the threat requires renewed legislation that could potentially cover the exploits and vulnerabilities used by the perpetrators. In essence, the current legal system (at an international level) may lack the necessary tools to deal with the problem. However, in terms of the mitigation procedures, the patches offered by Windows could serve as sufficient control procedures as they prevent the attacks before they happen. Nevertheless, the stated exploits should be eliminated in future systems altogether. References Cylance. (2017). Threat Spotlight: EternalBlue Exploit Breeds EternalRocks Malware. EternalRocks. Retrieved 09 August, 2017, from: https://www.cylance.com/en_us/blog/threat-spotlight-eternalblue-ransomware-eternalrocks-worm.html Microsoft. (2017). Microsoft SMB Protocol and CIFS Protocol Overview. Windows Dev Centre. Retrieved 09 August, 2017, from: https://msdn.microsoft.com/en-us/library/windows/desktop/aa365233(v=vs.85).management Paganini. P. (2017). Expert founds EternalRocks, a malware that uses 7 NSA Hacking Tools. Cyber warfare. Retrieved 09 August, 2017, from: https://securityaffairs.co/wordpress/59355/malware/eternalrocks-malware.html Trend micro. (2017). EternalRocks Emerges, Exploits Additional ShadowBroker Vulnerabilities. Cybercrime and digital threats. Retrieved 09 August, 2017, from: https://www.trendmicro.com/vinfo/us/security/news/cybercrime-and-digital-threats/eternalrocks-emerges-exploits-additional-shadowbroker-vulnerabilities