The auditor of the Juventus, investigated for false corporate communications in the investigation into the Piedmontese club, has been promoted to head of the Italian branch of Ernst & Young. On April 12 the company – writes Daily fact – (one of the four global giants of auditing and business consultancy), has announced that starting from July 1st Stefania Boschetti she will be the new Chief Executive Officer (CEO) of EY Italia, the first woman to lead a “big four” in Italy.
Yet Boschetti is among the dozen Juventus managers who on 22 December received notice from the Rome Prosecutor’s Office of the conclusion of the investigations for the hypothesis of false accounting. Boschetti is only under investigation for the 2019 accounts, but the other former managers of the Juventus club are also involved for the 2020 and 2021 financial years. In the investigation, the company is being investigated for the crimes of forgery in corporate communications, market manipulation, obstruction to the exercise of the public supervisory authorities of Consob and fraudulent declaration through the use of invoices for non-existent transactions.
Accusations that the Juventus club has always forcefully rejected. The theme is that of fictitious capital gains which, according to the prosecution, would have been used to support the company’s accounts through player transfer transactions. According to Juventus’ 2018/19 budget, revised by Boschettithe transfer campaign relating to the purchases and sales of multi-year rights of players «resulted in an overall increase in invested capital of 239.6 million, deriving from acquisitions and increases of 293.4 and sales of 53.8 million (net book value of the rights transferred)».
In this compound, “the permanent sales resulted in net capital gains of 126.7 million and the temporary net sales resulted in net proceeds of 25.1 million». The prosecutors accuse Stefania Boschetti that, as Juventus’ legal auditor on behalf of EY, despite having the legal obligation to do so, she failed to «exercise effective accounting control, thus expressing, in the report dated 2 October 2019, a positive opinion, free of qualifications and information requests, on the financial statements as of 30 June 2019» of the Turin club.
Boschetti, CEO of Fiat Auto between 2001 and 2003, began her career at EY in 1992 and became a partner in 2003. You are currently president of Ey SpA (EY’s Italian audit firm), member of the insurance leadership team in Italy and managing partner of the Turin office. Boschetti has worked in various business lines assisting international clients listed in various markets and sectors, including manufacturing, automotive, construction and retail.
Tags: among investigation Juventus case
