Pro Forma Distractions at Satyam

http://www.cfo.com/article.cfm/12964444?f=alerts

Last February, Srinivas Vadlamani, the CFO of Satyam since 1994, boasted to CFO Europe magazine that his company had mastered U.S. GAAP accounting. "A few years back we were new to U.S. GAAP," Vadlamani said at the time. "But now we can say with confidence that we can carry out U.S. GAAP accounting as perfectly as any other global corporation."

Vadlamani, who was arrested earlier this month for his role in the growing Satyam accounting scandal, had also told CFO Europe last year that "as a foreign private issuer [in the U.S.], we learned to comply with SOX requirements well ahead of time [and] we have recently embarked on compliance with IFRS requirements."

まだSatyamのAnnual Reportを見ていないけど、どんなことが書いてあるのかな。

News of the fraud at the computer services company came at a time when outsourcing proponents were touting offshore services as a way for US companies to realize cost savings in the midst of financial crisis. The scandal has raised questions about that strategy. Companies such as Nestle SA, General Electric Co., Caterpillar Inc., Sony Corp., and Nissan Motor Corp. were all Satyam clients. In 2007, Satyam's CFO told CFO Europe that 64 percent of its clients were U.S. companies, while 18 percent were were European companies.

オフショアリングについては、何年か前にhttp://www.amazon.com/Offshoring-Good-Bad-Ugly/dp/B001GS704E/ref=sr_1_2?ie=UTF8&s=books&qid=1232484148&sr=8-2という本を読んで考えた事があるけど、もう一度読み返してみようっと。