Prof Joshua Ronen - Professor of Accounting, Stern School of Business, New York University
(profile: http://pages.stern.nyu.edu/~jronen/) had delivered a guest lecture at Rai Business School Chennai on 20/1/09 on Global Crisis and How to ensure true financial reports and balance sheets

Professor Joshua, in his two hours long seminar at Rai Business School, Chennai, drew a clearer picture for the students regarding the Global Crisis

Easy loan, low interest rate, too much money chasing investments, over rated properties, issuance of loans to non credit worthy individuals,…….. the bubble had to burst. Students were delighted with such immense information pour-out.

Professor Joshua also helped the students in analyzing and understanding the relationship between the “auditor” and the “Client” where the auditor is paid by the client – The talk was triggered by the recent Satyam scam. In such scenario, why shouldn’t an auditor paint a more striking picture of the Paying Client?

How reliable are these big Brands auditors??

In his talk, he suggested a safer way of working – by introducing a new body, “the insurance agency”, which will act as a buffer between the companies and auditors

Prof Joshua’s Power Point Presentation