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The UK accounting regulator is investigating Deloitte over go-ahead audits

Deloitte is under investigation by the UK Accounting Authority for its audits of bus and train operators Go-Ahead Group.

The Financial Reporting Council said Tuesday it was examining Big Four auditors’ audits of Go-Ahead’s accounts for the six fiscal years ended June 2016 and July 2021.

The regulator did not disclose the focus of its investigation, which it says began on March 22. The investigation would not relate to anyone other than the statutory auditors who signed the financial statements in the relevant years, it said.

Go-Ahead shares have been suspended from trading on the London Stock Exchange in January this year after failing to release its financial results within the time allowed by market rules. The results were finally released on February 24th.

Deloitte said it will fully cooperate with the FRC investigation and is “committed to the highest standards of audit quality.”

https://www.ft.com/content/7c4979df-1fc5-419d-80ec-241a97da381f The UK accounting regulator is investigating Deloitte over go-ahead audits

Adam Bradshaw

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