What happened in Satyam and lessons for auditors

What did Raju do? –bird’s eye view• Employees on bench shown as ‘working’• For such ‘working employees’ ,‘Fictitious bills’ raised• For such ‘Fictitious bills’ , ‘money shown as if received’• For “Monies shown as if received’, ‘fake bank statements’ werecreated• With ‘Fake bank statements’ a ‘fake reconciliation’ was done• ‘Money shown as if received’ shown as ‘Deposits which didnot exist’• For ‘Deposits which did not exist’ , ‘fake bank depositreceipts and confirmations ‘ were created• For ‘Deposits which did not exist’, ‘interest shown asreceived’;• For ‘interest shown as received’ , ‘TDS’ shown as done!