Italian Firm Defends Its Parmalat Audits
The Italian unit of Grant Thornton said it had acted scrupulously in its audits of Parmalat and insisted it was a victim of fraud in its accounting work for the huge food group.
The accounting firm said it had not masked the financial situation of Parmalat, which this week filed for bankruptcy protection after revealing it was missing billions of euros listed in its accounts.
“If anything, we are the ones who have been the victims of serious fraud,” Grant Thornton Chairman Lorenzo Penca said in a statement. He did not elaborate.
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