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...
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