Deloitte wins right to appeal MG Rover fine

Deloitte can appeal part of a record £14m fine for failing to manage conflicts of interest in its advice to carmaker MG Rover Group, which collapsed in 2005 with debts of £1.4bn.

But the independent tribunal has refused to grant the Big Four firm the right to appeal a finding that it failed to consider public interest.

In September the Financial Reporting Council (FRC) levied its biggest fine ever on Deloitte over two transactions. Deloitte said it would appeal against the fine in October.

The appeal only relates to...

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Comments

Can the penalty be raised on a failed appeal ?

JC | | Permalink

and if not - why not?

This would make them think long and hard about an appeal