What was the assessment of the System Process Audit Team? How was it relevant with respect to control over financial at Satyam? How should the auditor have responded? 

 

2. What type of fraud scheme was used by the promoter to propagate financial statement fraud at Satyam? What were its overall implications for the financial statement of Satyam? 

 

3. What were the factors that resulted in the material weakness in the internal control over financial reporting at Satyam, which allowed the promoter to propagate financial fraud? 

 

4. Who should be held responsible for the failure of internal control over financial reporting at Satyam? 

 

5. If you were the chairman of the audit committee, how would you have assessed whether there was a material weakness in the internal control over financial reporting at Satyam? What follow-up action would you have taken?