Accounting’s watchdog the Financial
Reporting Council will consider the inspectors’ report into actions
of Phoenix Venture holdings and MG Rover.
The 850 page report,
today, has already been slammed by the four directors involved with
the carmaker when it collapsed as a “witch-hunt”.
The investigation into the conduct of Deloitte as auditors and advisers to MG
Rover, by the FRC’s Accountancy and Actuarial Discipline Board which began in
August 2005, continues and “will take into consideration” information contained
in the inspectors” report.
More to follow.
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Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC