Deloitte has said that it is 'very pleased' with the outcome of the Joint Disciplinary Tribunal into the conduct of its UK Chairman Martin Scicluna.

Scicluna was cleared earlier today of charges that he should have reported Deloitte auditor Stephen Ives to the ICAEW for misconduct in relation to the audit of Capital Corporation in the 1990s.

In a statement, Deloitte said merely: 'Clearly, we are very pleased with the Tribunal’s decision which concludes this matter and dismisses all complaints against the firm and Martin Scicluna.'

The firm had always hotly disputed the charges, going so far as to try to block the announcement of the charges early last year with a High Court injunction.