looked specifically at the
largest fraud case in India, involving Satyam Computer
Services (Satyam). Labelled as “India’s Enron” by the
Indian media, the Satyam accounting fraud has comprehensively
exposed the failure of the regulatory oversight
mechanism in India. No doubt, to design better accounting
systems, we need to understand how accounting systems
operate in their social, political and economic contexts.
The main objectives of this study are to: 1) highlight the
Satyam Computers Limited’s accounting scandal by portraying
the sequence of events, the aftermath of events, the
key parties involved, and major follow-up actions undertaken
in India; and 2) what lesions can be learned from
Satyam scam?