we can control the frauds in listed companies and others by introdusing

either the procedure of appointment of auditors in banking sector means one controlling authority will decide the auditor for all listed companies and control by reviews or

the procedure of peer review of practicing unit will be introduced to review all the companies incorporated in india, this can be introduced not only to companies but also to all other business and service concerns. but the selection of auditors must be in the control of statutory body

these activities must be controlled by seperate statutory body then i think our india is in number one position in controling the corporate frauds.