Deloitte Guilty of Miscounduct

Breaking news today that Deloitte have been found guilty of significant misconduct by the Financial Reporting Council (FRC).

A tribunal hearing found that the firm of accountants had broken professional standards when advising the MG Rover directors - the Phoenix Four.

The case could see a landmark judgment with the potential for an unlimited record fine. In addition to this Deloitte will have to pay costs reported so far at around £1.75 million. It is understood further details will be announced tomorrow.

Here are some of the breaking articles on the story:

http://www.telegraph.co.uk/finance/newsbysector/industry/10209031/Deloitte-loses-appeal-over-MG-Rover-ruling.html

http://blogs.birminghampost.co.uk/business/2013/07/mg-rover-deloitte-found-guilty.html


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