Basic Search  |  Summaries  |  Advanced SearchPenalty: £3,000,000
Year: 2015
Date: 13 April, 2015
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: The Financial Reporting Council published the final report of the Appeal Tribunal on sanctions in the hearing against Deloitte & Touche, who were advisers to MG Rover Group, and a partner at Deloitte & Touche. The Appeal Tribunal hearing on 30 January 2015 upheld several findings of misconduct in relation to Deloitte's work on 'Project Platinum', the project to dispose of the MG Rover loan book and granted the appeal against other findings including those in relation to 'Project Aircraft', the project to realise the value of tax losses within MG Rover Group. The Appeal Tribunal upheld the severe reprimand of Deloitte but reduced a fine from £14 million to £3 million.
Action Type: agency action
Agency: Financial Reporting Council
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: privately held
Major Industry of Parent: business services
Specific Industry of Parent: accounting services
Source of Data: (click here)