PracticeAuditMcAlpine probe nets Deloitte £6m

McAlpine probe nets Deloitte £6m

Review of Alfred McAlpine’s Slate subsidiary earned the Big Four firm £6m

Deloitte’s review of Alfred McAlpine’s Slate subsidiary earned the Big Four
firm £6m, it emerged this week.

It was drafted in to conduct the probe, Accountancy Age revealed
earlier this year, covering four years of activities at the construction giant’s
subsidiary. An internal audit had earlier uncovered serious accounting
irregularities at the division.

The scandal, which is expected to cost McAlpine £30m in 2007, caused finance
director Dominic Lavelle to hand in his notice, despite not being involved in
the deception: ‘Given that it happened on his watch he decided to do what he
felt was best,’ said a spokesperson.

Chief exec Ian Grice said that there was no suggestion that auditors
PricewaterhouseCoopers had failed in not picking up the frauds, because of the
level of deception involved.

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