Something went sour at Parmalat : DISCUSSION QUESTIONS

$1.$ Two paragraph summary of the case. $2.$ What steps does an auditor ordinarily take when confirming cash balances held on deposits with financial institutions?

$3.$ What additional steps should the auditors have taken when they received the smudged fax copy printed on Bank of America letterhead?

$4.$ What red flags did the auditors miss in the Parmalat case? Please be specific.

$5.$ What steps should Deloitte & Touche Spa have taken with respect to Grant Thornton's audit of the Cayman Island subsidiaries? $6.$ bring another example into this case. $7.$ Include work cited $8.$ Conclusion of the case