PracticeAuditParmalat dismisses Deloitte

Parmalat dismisses Deloitte

Beleaguered Italian dairy company Parmalat has dismissed Deloitte as its auditor.

Link: Deloitte partners face Parmalat inquiry

In a statement issued last night, Parmalat said: ‘Parmalat Finanziaria SpA, under extraordinary administration, communicates that it has today removed Deloitte & Touche from its role as auditor of the company.’

No firm has yet been named to replace Deloitte as auditor.

This came at the same time as an Italian magistrates formally placing two Deloitte partners – Giuseppe Rovelli and Adolfo Mamoli – in the Italian arm of the firm under investigation.

Magistrates have expanded their inquiries into the scandal which has already seen parts of the Parmalat business declared bankrupt.

It also emerged that Parma, the football club owned by Parmalat and heavily in debt, is likely to be sold at the end of the season.

The future of the club will be discussed at a shareholders’ meeting called by administrators today.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

2d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

7d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter