Read the article about Price Waterhouse Coopers (PWC) and its association with the worst accounting fraud in India related to its audit of Satyam Computer Services, Ltd. titled "Price Waterhouse Auditors Arrested in Satyam Inquiry (Update 1)" and located here.

(6-8) page paper:

1. An argument supporting that the requirements of SOX have reduced corporate fraudulent activity due to the requirements placed on public accounting firms, thereby providing greater assurances to public users of financial information.
2. Evaluate the issues related to the audit of Satyam Computer Services Limited, indicating whether or not PWC followed auditing standards in rendering its audit opinion of the company.
3. Assess whether PWC relied too heavily on the established system of internal controls and neglected to perform sufficient testing of transactions using effective computer-aided audit tools.
4. Analyze whether PWC neglected to sufficiently test transactions or whether it could have relied on the audit of Internal Control to limited testing in those areas, indicating any consequences related to their decision.
5. the position for whether or not PWC met its responsibility of "Due Care" based on the requirements placed on auditors by PCAOB.
6. improvements needed to external auditing firms and the accounting profession to reduce the number of audit scandals and fraudulent activity within publically traded companies.

(3) resources