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March 1, 2010

Tunisian court shuts down Deloitte firm

The Tunisian Administrative Court has ordered
Deloitte Conseil Tunisie (Deloitte Tunisia) to cease operations due
to allegations it has breached local ownership laws. Deloitte
France established the Tunisian firm to operate within its French
African cluster.

Khaled Guesmi, from Tunisia News,
told the International Accounting Bulletin Deloitte France
owns 100 percent of the share capital of the Tunisian firm. This
breaches Tunisian law, which states that accounting firms must be
at least 75 percent locally owned.

Guesmi said the case was brought before the
court at the request of Tunisia’s national CPA institute, the Ordre
des Experts Comptables de Tunisie.

Deloitte Conseil Tunisie chief executive
Didier Novella argued that the “factual showing made to the
Commercial Court in Tunis was neither accurate nor
complete”. 

Novella added: “Deloitte Conseil Tunisie has
now had an opportunity to correct the record and is confident the
matter will be resolved quickly and appropriately on appeal.”

 

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