Deloitte Fined £4.2M For Serco Audit Compliance Breaches

Law360, London (July 4, 2019, 10:46 AM BST) -- Britain’s accounting watchdog hit Deloitte with a £4.2 million ($5.3 million) fine on Thursday and "severely reprimanded" the Big Four accounting company for misconduct over its audit of financial statements by a subsidiary of security outsourcing giant Serco.

Deloitte has been fined £4.2 million ($5.3 million) and "severely reprimanded" for compliance breaches over its auditing of the accounts of a services contracting giant. (Getty Images) The penalty from the Financial Reporting Council comes a day after it was revealed that the Serco unit had agreed to pay the Serious Fraud Office £22.9 million to avoid prosecution for misleading officials about profits it made...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!