Smartmoney

When you are stuck with a workplace problem, it’s unlikely that your colleagues are dying to help you. So, what do you do? Take it to an e-group. That’s because no matter what your job description, no matter what your problem, there’s an e-group out there that has all the answer. And it’s not just the quality of responses you get, but the short response time that makes e-groups so useful. Besides, many have emerged as head-hunting forums. So what are you waiting for? All you need to do is run a search on the Internet to find an e-group in your work area.

Even before the dust settles on the Enron-Andersen fiasco, new financial tremors, involving WorldCom and Xerox, are spooking international investors. The sheer scale with which balance sheets have been fudged makes scams involving banks and regulators seem a waste of time. Imagine what can be done by simply fudging numbers?

But can this happen in India? Well, the numbers can be manipulated by two sets of people: the management and the auditors. While accounting standards are stringent, they are blunted by a failure to bring scamsters to book. Sebi chief G.N. Bajpai offers some advice: "The systems and processes should be strengthened to reduce systemic and operational risk. If all else fails, punitive action should be so strong that it deters defaulters." Food for thought?