Satyam Failure and Changes in Indian Audit Committees

20 Pages Posted: 8 Nov 2014

See all articles by R. Narayanaswamy

R. Narayanaswamy

Indian Institute of Management (IIMB), Bangalore

Kannan Raghunandan

Florida International University (FIU) - School of Accounting

Dasaratha V. Rama

Florida International University (FIU)

Date Written: November 7, 2014

Abstract

Audit committees have received considerable attention globally in recent years. We examine the effects of the Satyam failure on changes in the composition and functioning of Indian audit committees. A corporate collapse that shook India’s markets and regulators, and widely noted of as “India’s Enron”, should have led to major improvements in the functioning of audit committees of Indian companies. Our empirical results show that the Satyam failure had a limited effect on Indian audit committees.

Keywords: audit committee; Satyam; India; corporate governance

Suggested Citation

Narayanaswamy, Ramaswami and Raghunandan, Kannan and Rama, Dasaratha, Satyam Failure and Changes in Indian Audit Committees (November 7, 2014). IIM Bangalore Research Paper No. 471, Available at SSRN: https://ssrn.com/abstract=2520414 or http://dx.doi.org/10.2139/ssrn.2520414

Ramaswami Narayanaswamy (Contact Author)

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Kannan Raghunandan

Florida International University (FIU) - School of Accounting ( email )

University Park
11200 SW 8th Street
Miami, FL 33199
United States
305-348-2582 (Phone)

Dasaratha Rama

Florida International University (FIU) ( email )

University Park
11200 SW 8th Street
Miami, FL 33199
United States

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