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Italy: Antitrust authority fines accounting firms

By  |  November 7, 2017

On Tuesday, November 7, Italy’s Antitrust authority reported that it fined the “big four” accounting firms a total of €23 million (US$26.61 million). They had been conspiring to divvy up large public consultancy contracts Reuters reported.

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    Deloitte, KPMG, Ernst&Young and PWC “colluded” to win contracts worth a total of €66 million

    Deloitte, KPMG, Ernst&Young and PWC “colluded” to win contracts worth a total of €66 million (US$76.5 million), the statement said, “nullifying” the bidding process and “neutralising competition from outside the cartel”.

    The fine each company received individually was not provided.

    Full Content: Reuters

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