While reading the big accounting fraud at Satyam,a company based in India, which got a lot of media coverage not only in India but also in the US, I realized that globalization is also a good policing methodology. Most of the earlier cases of reported accounting frauds have been in the USA, UK , but now such cases in the upcoming economies are also coming to light thanks to globalization.
Any company that desires to join the globalization bandwagon needs to follow the rules and ensure that their financial statements reflects their true performance. If not then beware because the Gloablization Police is watching!