U.K. Regulator Fines Deloitte £6.5 Million Over Audit Misconduct
A Deloitte logo is pictured on a sign outside the company's offices in London on September 25, 2017.
Deloitte said Monday that "very few" of the accounting and consultancy firm's clients were affected by a hack after a news report said systems of blue-chip clients had been breached. / AFP PHOTO / Daniel LEAL-OLIVAS (Photo credit should read DANIEL LEAL-OLIVAS/AFP/Getty Images)
The Financial Reporting Council, Britain’s regulator for
accounting and audit, on Thursday, July 4th 2019, penalized and
reprimanded Deloitte LLP, the global auditing giant, and one of its partners
for shortfalls in its audits of a subsidiary of a U.K outsourcing firm, Serco
Group PLC.
Deloitte was charged £6.5 million ($8.2 million) in
addition to a “severe” reprimand. The fine was how
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