Reposted by Boris Long
Deloitte fined £6.05m for dud audits at Go-Ahead Group.
Fines passed to clients in higher charges.
Big firms routinely deliver dud audits. None shut down.
Regulator so impressed, set to reduce audit quality inspections, will rely on self-reporting by firms.
frc.org.uk
Sanctions against Deloitte LLP
Executive Counsel of the Financial Reporting Council (FRC) has issued a Final Settlement Decision Notice under the Audit Enforcement Procedure and imposed sanctions against Deloitte LLP (Deloitte) in ...