Satyam fraud "encouraged India's government to tighten the CG requirements to prevent similar frauds from repeating in the future. Thus, for "lessons-learned" and "strategies-to-follow" to minimize the occurrences of such frauds in the future, significant financial reporting frauds need to be studied.
Corporate fraud is an illegal, deceptive activity performed by a corporation or a person who works for the company. They result in the loss of a company's market capitalization and brand value. They are alarmingly prevalent in several countries and sectors of the economy.
Corporate Crime is the offence committed by the Corporation, as a separate legal body, varies from that of a normal individual, and the Corporation is responsible and guilty for the act.