BusinessBusiness RecoveryDeloitte ‘disappointed’ by AIDB investigation

Deloitte 'disappointed' by AIDB investigation

Firm expects to be vindicated over audit of MG Rover

Big four firm Deloitte has said it is ‘disappointed’ that it will be
investigated over the audit of former car maker MG Rover, but said it was
confident about the results of such a probe.

Responding to the announcement that the Accounting Investigation and
Discipline Board is to look into Deloitte’s audit of the company’s 2003 accounts
and provision of other services, the firm argued that investigations by the
ICAEW had found no need for such a move

In a statement the firm said: ‘We note the AIDB announcement and are
disappointed in this decision. Following the initial consideration of this
matter by the ICAEW Investigation Committee, that committee determined that it
should be made abundantly plain to the AIDB that it has not found a prima facie
case against Deloitte and this should be made clear in any communication issued.

‘We will fully co-operate with the investigation; we are confident that we
will demonstrate that our work was carried out to the highest professional
standards.’

The firm is already facing complaints from the Joint Disciplinary Scheme, the
AIDB’s predecessor, on matters relating to work carried out on the audit of
casino company, Capital Corporation.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor