1. The events leading up to the Parmalat accounting scandal and ultimately the revelation of the accounting fraud and the reasons behind the scandal? 导致帕玛拉特会计丑闻和最终的会计欺诈丑闻背后的原因，揭示事件？
从一个小乳品店成为国际关注，帕玛拉特似乎是一个巨大的、稳定的乳制品生产商。在某个时间点，它可能是巨大的和稳定的，但在2003年12月，令人震惊的消息被打破帕尔马。帕玛拉特不再是成功的企业，破产和已经好几年没有这丑陋的真相被曝光。真相显然被掩盖了，因为许多人至少意识到有什么问题，但没有说出来。多年来，帕玛拉特公司要破产了，有发生在帕玛拉特的条件终于曝光的几个事件。首先，早在1990年，有迹象表明，帕玛拉特的债务。根据发现，帕玛拉特公司存在欺诈活动。这是当他们的股票上市，并体现为一种像帕玛拉特大公司进行国际市场，其性能提高了投资者预期的需要。
Evolving from a small dairy shop into an international concern, Parmalat appeared to be a gigantic and stable dairy producer. At some point in time, it may well have been gigantic and stable, but in December 2003, shocking news was broken to Parma, Italy, and the world at large. Parmalat was no longer a success as it once may have been, and it was bankrupt, and had been bankrupt for several years without this ugly truth being exposed. The truth had apparently been concealed due to a number of people being at least somewhat aware that something was amiss with transactions on the books, but had not spoken out. Through the years that Parmalat was going bankrupt, there were several events that took place before Parmalat’s condition was finally exposed. To begin with, as early as 1990, there were signs that Parmalat was in debt. In accordance with what has been uncovered, Parmalat’s fraudulent activities are said to have ‘taken off’ in 1990. This was when their stock went public, and reflected the need for a big company like Parmalat to perform in the international market so that their performance improved and met investor expectation (Family Arrests in Parmalat Scandal, 2004).
The following year [1991] the Tanzis purchased Parma Football Club of which Tanzi's son, Stefano, was president, and also was Parmalat board member. With this purchase, the football club rose to fame quickly, but faced large losses that recorded a deficit of over €77m in 2002. According to investigations, Parma Football Club was the first asset to be sold[1].
Another set of purchases that went along with purchasing the Parma Football Club included Tanzi buying up his competitors. Once he had established Parmalat Milk in the global market, his financial ventures proved to be devastating. This included his family’s financial interest in football and tourism, as well as his failed attempt to outdo Belosconi when he purchased a TV network, Odeon TV. At this point, Parmalat’s finances were a mess.
Purchasing Odeon TV Network was a disaster as Tanzi had to sell the network off for a around ￡30m. From this point on though, it is said that Parmalat still progressed in spite of its major losses. This was largely achieved through altering the books and attaining bank loans and investments against falsified figures.
Parmalat had spent €130 million on Odeon TV, but it collapsed within 3 years. In order to prevent bankruptcy at this point, Parmalat had to sell itself to a company that was already listed on the Milan stock exchange. This helped to produce €150 million from external investors, and paved the way for Parmalat to be in public view in 1990. It also enabled them to patch up some of its accounts[2].
It is thought that Parmalat began altering its books in 1993. If Parmalat had not ‘cooked’ its books it would have registered financial losses every year. However, they registered profits, which meant that they would still be viewed as a viable organization and one that was worth investing in. Therefore, they managed to avoid being suspected of any losses and attracted much investment.
Parmalat managed to cover losses through a combination of fictitious transactions and aggressive acquisition. This commenced in 1992, when Parmalat started ‘snapping up’ various companies in Argentina, Italy, Brazil, Hungary and the U.S. However, beyond 1995 it is thought that Parmalat was not able to fund its own needs. Yet it managed to prove to investors that it was registering significant profits. Perhaps, Parmalat’s profits registered were so
