Deloitte to appeal against MG Rover fine | AccountingWEB

Deloitte to appeal against MG Rover fine

Deloitte said it will appeal against a £14m fine from the Financial Reporting Council (FRC) for failing to manage conflicts of interest when the big four accounting firm advised collapsed British car manufacturer MG Rover.

The FRC also gave Deloitte a severe reprimand when it published its final report last month into the firm's role as financial adviser last month.

Four directors bought out the company in 2000 for a token sum of £10.

The car maker collapsed in 2005 with £1.4bn in debts and the loss of 6,000...


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