Fears for Thornton over Parmalat

ACCOUNTANCY group Grant Thornton was attempting to quash fears this weekend that its British business will suffer from the financial scandal engulfing Italian dairy group Parmalat.

The UK arm of the international accounting group was busy assuring clients that it was legally separate from its Italian affiliate, which is caught up in the alleged £5.6 billion fraud that has bankrupted one of Italy's biggest companies.

Grant Thornton's British business stressed that it did not audit the likes of Parmalat. 'Grant Thornton's main market is midsized firms,' said a spokeswoman. 'Auditing companies with operations internationally is less of a business for us.'

Investigators in Italy are still grappling with the scope of the alleged fraud. Company founder Calisto Tanzi, right, faced further questioning this weekend after doctors examined him to see if he was well enough to talk to investigators.