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.

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