PracticeAccounting FirmsBarings case against Deloitte begins

Barings case against Deloitte begins

The final stages of the ongoing negligence claim against Barings' former co-auditor, Deloitte & Touche, have kicked off in the High Court.

Barring a last-ditch settlement deal, the £200m negligence claim brought by Barings’ liquidators KPMG on behalf of creditors against Deloittes is expected to last well into 2003.

Deloitte’s Singapore practice audited Barings Futures Singapore in 1992 and 1993 two years before the merchant bank collapsed.

Last month, an appeal tribunal for the profession’s senior watchdog, the Joint Disciplinary Scheme, upheld its findings against Coopers & Lybrand for the firm’s role as auditor in the collapse of Barings.

Barings bank collapsed in 1995 amid unauthorised transactions in excess of £800m by rogue trader Nick Leeson.

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

3d Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

4w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

2m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin