Thomson ReutersSeptember 9, 2013 06:32
LONDON (Reuters) - Accountancy firm Deloitte has been fined a record 14 million pounds ($22 million) for failing to manage conflicts of interest in its advice to collapsed British carmaker MG Rover Group.
The Financial Reporting Council, which brought the case against Deloitte, said an independent tribunal has also backed the watchdog's call for a severe reprimand of the company.
In July the tribunal found that all 13 allegations the FRC had brought against Deloitte were proven. <IB:nL6N0FZ2NX>