Speaking to Reuters, David McDonnell, chief executive of Grant Thornton International, said the firm would not hesitate to take action against Grant Thornton SpA, or individuals, if wrong doing was uncovered.
Grant Thornton has already accepted the resignation of Lorenzo Penca, chairman of the Italian affiliate, and suspended his partner Maurizio Bianchi. Both are former audit partners of Parmalat subsidiary Bonlat where a €3.9bn accounting hole was uncovered.
Both were arrested on Wednesday last week and were questioned by magistrates on Friday, but have denied any wrongdoing.
McDonnell is heading up the investigation into the Parmalat affair, and is fighting to ensure it does not affect the firm’s reputation outside Italy. Grant Thornton has 110 offices worldwide.
Italian authorities probing Parmalat’s collapse a fortnight ago have widened the net in their search for up to €8bn (£5.6bn) of missing money and also are probing the role of Bank of America.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars
Investment in people, tech and businesses impacts on EY's profit per partner figure
RSM has appointed Kevin Edwards as a tax partner in its Nottingham office