Deloitte Touche Tohmatsu (now doing business simply as Deloitte) is one of accounting’s Big Four, along with Ernst & Young, KPMG, and PricewaterhouseCoopers. Deloitte offers traditional audit and fiscal-oversight services to a multinational clientele. It also provides human resources and tax consulting services, as well as services to governments and international lending agencies working in emerging markets. (China and India are important markets.) Units include Deloitte & Touche (the US accounting arm) and Deloitte Consulting. Consulting services account for 25% of Deloitte’s sales.
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Bank of America has been banned from suing Parmalat, the food group which went bust in 2003 after an accounting scandal.
The bank – along with investors, auditors and the group’s managers – want damages for being victims of fraud at the hands of the Italian firm.
But a judge has barred Bank of America and two auditors from the case
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal