New York (Jan. 22, 2004) -- In the wake of Italian dairy product maker Parmalat’s accounting discrepancies and subsequent bankruptcy, the International Federation of Accountants, a global group comprised of some 159 accounting bodies in 118 countries, is calling for greater vigilance by all those involved directly or indirectly in the production of financial information.
For its part, IFAC said it is closely monitoring the Parmalat situation as the facts become public and the truth of the situation emerges. The organization also claims it would support the application of strong sanctions, should they be warranted.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access