The word "Satyam" loses its meaning

satyam fraud isnt suprising..They have been carrying non existent cash balances for several quarters under the head "cash in current account". Just that this whole fudging up process never got noticed by any stakeholder. No enterprise would hold up cash in current account that doesnt even yield any interest income. PWC did not exercise discriminative intellect during its audit process and has plainly relied upon the bankers confirmation of balances..Its not that satyam business was not profitable. No clients have come forward so far to complain about their operational expertise or execution/delivery capabilities. Its just that a portion of the top management has colluded with Raju to siphon funds off balance sheet to group companies which resulted in inflated figures being carried in the books for a long time. The hawala mechanism has worked overtime in this whole scam. What's puzzling is the laxity of PWC as an audit firm in the whole process of auditing satyam's books. Did they simply rely on management assertions without looking deeper into the financial statements for material mistatements?.A cursory glance at the cash flow statements of the company over the past few years would have given them enough room for doubts over the state of affairs. Whichever way u look at it now, PWC has an albatross hanging around its neck which its gonna find very difficult to shed off.