Joint action underway to fight Deloitte injunction

Accountancy Age

and the Joint Disciplinary Scheme will go to court next month in an attempt to overturn the injunction granted to Deloitte preventing publication of further details of an inquiry the firm is facing.

Link: Deloitte injunction halts story

The highly influential barrister and president of Trinity College Oxford, Michael Beloff QC, has been instructed by the JDS to contest the injunction granted to the firm two weeks ago. It prevents publication of details of an ongoing investigation into Deloitte’s audit of casino group Capital Corporation in the 1990s.

Beloff, of Blackstone Chambers, acted for the JDS when Ernst & Young sought a judicial review to stay its inquiry into Equitable Life in 2002.

Junior counsel Jonathan Evans is also working alongside Beloff, and Joanna Cash of One Brick Court chambers has been instructed by Accountancy Age. The hearing is expected to take place on 7 March.

The JDS website describes Capital as a ‘current case’ and says that the investigation ‘covers Touche Ross and Deloitte & Touche, the former auditors of Capital Corporation plc, as well as chartered accountants formerly employed by Capital Corporation.’

Accountancy Age editor Damian Wild said: ‘We are taking this action because we believe there are important issues at stake.’

In a statement released last week, Deloitte said it had ‘obtained a temporary injunction to uphold its rights under the Joint Disciplinary Scheme rules’.

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