The summary provides an overview of the Parmalat scandal: Parmalat was an Italian dairy company that expanded globally in the 1960-1990s. In the late 1990s and early 2000s, it was discovered that Parmalat had over $4 billion missing from its accounts. Its former CEO Calisto Tanzi and other executives were arrested for their role in an accounting fraud scheme. The scandal had wide impacts, resulting in reforms to strengthen financial controls and auditing standards for companies in the EU.

1. The Story Behind Parmalat's Bankruptcy

2. Company History The 1960s: From Cold Cuts to Riches The 1970s and 1980s: Expanding in Italy and Abroad The 1990s and Beyond: Capturing the American Market and Others

3. Principal Divisions Bakery Fresh Foods Milk Vegetables.

4. Business of Parmalat

5. Other Social investments undertaken where [ Losses Incurred] German Formula 1 Football Club

6. Parmalat across the world

7. List of countries across the Globe Italy Portugal Romania Russia Australia Botswana Canada Colombia Cuba Ecuador Brazil Chile China Dominican Republic Hungary Mexico Spain United States of America Uruguay

8. The Founder of Parmalat Calisto Tanzi

9. People involved in the Scam Former chief financial officers Luciano Del Soldato & Fausto Tonna

10. Arrest of Calisto Tanzi

11. The case of Parmalat Key Facts Why were Parmalat considered as responsible corporate citizens? How similar is the scandal to Enron ? Curiosity which prevailed at that time? What have been the impacts of Parmalat’s collapse?

12. People who are under investigation Parmalat board members Internal auditors Parmalat executives Deloitte & Touche Grant Thornton Bank of America Lawyer

13. Prosecutors are also seeking indictments against Bank of America's Italian unit Deloitte & Touche Grant Thornton

14. From Countdown to meltdown 1961 -> 1963-> 1980-> 1990-> 1999-> 2003 : 11 Nov 15 Nov 8 Dec 15 Dec 16 Dec 17 Dec 24 Dec 27 Dec 29 Dec 30 Dec 31 Dec

15. The Scandal Here's the skinny on Europe's enormous financial scandal What triggered the financial crisis? Why is the Parmalat scandal important? How did the company misplace $4.9 billion? Who is under investigation?

16. Parmalat scam’s impact on EU Decision w.r.t companies: To Revise Company Law Directive on the Statutory Audit function. It will strengthen controls over the audit profession in the EU. Full group auditor responsibility for consolidated accounts of a group of companies. Obligatory independent audit committees for listed companies. Stricter auditor rotation requirements Strengthened sanctions

17. What role did derivatives and other financial instruments play? Where did the missing billions go, and how did the fraud stay undetected for so long? Are European investors likely to be slammed by more Parmalat-style frauds? What happens now to Parmalat?

18. Presented By: Raghotham 06B123 Jeffrey Silvin 06B153 Naveen 06A023