PracticeAuditDeloitte partners face Parmalat inquiry

Deloitte partners face Parmalat inquiry

As predicted in this week's Accountancy Age, Deloitte was dragged into the Parmalat affair last night with Italian magistrates formally placing two partners in the Italian arm of the firm under investigation.

Link: Deloitte issues Parmalat defence

Giuseppe Rovelli and Adolfo Mamoli were formally placed under investigation on Thursday as Italian magistrates expanded their inquiries into the scandal which has already seen parts of the Parmalat business declared bankrupt.

Deloitte Touche Tohmatsu submitted relevant documents to the Italian authorities late last week. Earlier this week a spokeswoman for the Big Four firm confirmed it was expecting Rovelli to be questioned. ‘We assume he will be, it would be surprising if he wasn’t called at some point,’ she said.

Already the chairman of Grant Thronton Italy, Lorenzo Penca, has been jailed, along with his colleague Maurizio Bianchi. Penca has resigned with Bianchi suspended but neither has yet been charged.

A Bank of America employee was also placed under investigation. The moves came as Grant Thornton International expelled its Italian firm, saying it had lost confidence in the practice.

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