Please join StudyMode to read the full document. Moreover, a consultant cannot be deterred from performing its professional duty to disclose this information to the external auditors who have the greater responsibility to take charge of this matter. In short, those questionable management practices are not to be held confidential but are to be given notice on the responsible authority. Although it might create a threat on my part, I should directly notify him of such matter knowing that I am after the overall welfare of the organization rather than its individuals. Although this case presents a dilemma involving intimidation threat coming from higher authority, there is a need for me to discuss the real matter to the external auditors who have greater authority regarding this
Parmalat Accounting Scandal Case Study Solution & Analysis
Case Study-Parmalat Essay - Words
Not even the best auditors could prepare for what was to come from this company. The Parmalat group, a world leader in the dairy food business, collapsed and entered bankruptcy protection in December after acknowledging massive holes in its financial statements. This dramatic collapse. Contact: gio. Introduction The collapse of the Parmalat food empire reveals a troubling aspect about Italian capitalism - the lack of effective financial.
Please note: This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source. Chat with us Please leave your feedback.
Evolving from a small dairy shop into an international concern, Parmalat appeared to be a gigantic and stable dairy producer. At some point in time, it may well have been gigantic and stable, but in December , shocking news was broken to Parma, Italy, and the world at large. Parmalat was no longer a success as it once may have been, and it was bankrupt, and had been bankrupt for several years without this ugly truth being exposed. The truth had apparently been concealed due to a number of people being at least somewhat aware that something was amiss with transactions on the books, but had not spoken out.