Parmalat Cuts The Cheese On Grant Thornton

More to come on these recent developments .

I am still reviewing other reports. I didn’t believe that 10 billion figure at first. Thought it was a typo. Are we sure they’re not talking Italian Lira?

In the meantime, read my prior posts about Parmalat, GT and the ability or lack thereof of the “next tier ” firms to make a serious play at supplementing the Big 4 when it comes to doing more public company audits.

4 replies
  1. Independent Accountant
    Independent Accountant says:

    I have follwed this story for years. The $10 billion is dollars, not lira. Italy uses Euros and has for about nine years. There are no more lira.

Trackbacks & Pingbacks

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  2. […] of any other “Member Firm.” Even second-tier accounting firms use this tactic (read, “Grant Thornton and Parmalat”), but the bigger firms have it down to a (legal) science. They’re members and partners until […]

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