Questions For International Accounting Firm Networks

Law360, New York (August 20, 2009, 1:13 PM EDT) -- International accounting firm networks historically have relied on their structures to contain liabilities for the acts of member firms, usually with success.

Earlier this year, certain rulings in the litigation arising from the collapse of the Italian dairy conglomerate Parmalat Finanziaria SpA raised questions as to whether this trend may be ending.

Other recent cases suggest that accounting firm networks still will be able to contain potential liabilities, though the cost and uncertainty of litigating the relevant issues may increase as some courts appear more willing...
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