Was tied to the fraud by overstating the company’s revenue for five years.
Who is Senior Management?
100
Part of the audit procedure sent to employees and banks.
What are Confirmation Requests?
100
This city is where Satyam’s principal executive offices were located.
Where is Hyderabad?
100
The fraud was ultimately revealed in.
When is January 2009?
100
This is the assertion that proves cash balances exist at the balance sheet date.
What is existence or occurrence?
200
Login that allowed senior management to produce false invoices to overstate revenue, through selected employees.
What is Super User Login?
200
Regarding Cash and Accounts Receivable, confirmations generally provide appropriate evidence for this assertion.
What is Existence and Accuracy?
200
This is the total number of false invoices that the employees ended up generating.
What is 6,600?
200
SEC announced that it had settled a civil action against Satyam, with a penalty of.
What is $10 Million?
200
This assertion proves that the recorded balances reflect the true underlying economic value of those assets.
What is valuation or allocation?
300
Senior management concealed their falsification of the cash accounts by preparing ___ ___ ___, to reflect deposits that Satyam did not have in their bank accounts.
What is False Bank Statements?
300
In charge of mailing the confirmation requests for accounts receivables.
Who is Management?
300
These two accounts were what Satyam was overstating during its fraudulent scheme
What are the accounts receivable and cash accounts?
300
Who enforced that Satyam must require specific training of officers and employees concerning securities laws and accounting principles and improve its internal audit function.
Who is SEC?
300
This assertion proves that cash balances include all cash transactions that have taken place during the period.
What is completeness?
400
Creating this secret access to IT systems presented a poor ___ ___ ___ ___. Allowing management to ignore the importance of maintain effective IT general controls over the system.
What is Tone at the Top?
400
Assertion needed to take place after the auditor received the independent response directly from Hyderabad Brach, after revealing no fixed assets recorded for Satyam.
What is Completeness?
400
These two firms participated in the audit of Satyam’s financial statements beginning in 2000.
What are Price Waterhouse, Bangalore and Lovelock & Lewes?
400
Penalty amount on PW Bangalore and Lovelock & Lowes.
What is $1.5 Million?
400
This assertion proves that cash is properly classified on the balance sheet and disclosed in the notes to the financial statements.
What is presentation and disclosure?
500
The allowance of bypassing existing internal controls to engage in actions not allowed by those controls.
What is Management Override?
500
Auditor sends confirmation request to employees regarding cash balances.
Employees receive request and sends request to banks.
Employees sent their response and the bank’s response back to auditor.
This would be a
What is a Deficiency?
500
This is the new strategic investor chosen for Satyam.
What is Tech Mahindra Limited?
500
Censured all five audit firms included the PW India network.
Who is PCAOB?
500
This is the assertion that proves the company has title to the cash accounts as of the balance sheet date.