AUDITORS IN Italy have escaped the heat of onset of criticism provoked by a series of financial scandals that culminated in the collapse of the dairy cluster Parmalat.

AUDITORS IN Italy have escaped the heat of onset of criticism provoked by a series of financial scandals that culminated in the collapse of the dairy cluster Parmalat. The banking industry has been singled abroad by the authorities as the biggest culprit. However, the auditing profession has had its fair share of blame during the slew of inquiries and regulatory reports that have ensu and reforms are onward their way in legislation being discussed by way of parliament.

During his annual address forward 7 June, Lamberto Cardia--the head of Italian securities regulator Consob which also supervises auditing of listed companies--questioned the quality of financial