Deloitte to pay $1.8M for goodwill testing failures in Mitie Group audit
By 
Kyle Brasseur2022-04-26T19:11:00
The U.K. Financial Reporting Council announced a reduced penalty of 1.45 million pounds (U.S. $1.8 million) against Deloitte regarding goodwill testing failures during its audit of facility management company Mitie Group for fiscal year 2016.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleDeloitte fined $1.1M for SIG audit lapses
Deloitte received a penalty of £906,250 (U.S. $1.1 million) from the U.K. Financial Reporting Council for evidence failures regarding supplier rebates and cash uncovered in its 2015 and 2016 financial year audits at specialist building product distributor SIG.
-
ArticleDeloitte China fined $20M for ‘basic’ audit standard violations
The Chinese affiliate of Big Four audit firm Deloitte agreed to pay a $20 million penalty and undertake extensive remedial measures as part of a settlement with the SEC for audit failures that included asking clients to conduct their own audit work.
-
ArticleFASB removes goodwill accounting project from agenda
The Financial Accounting Standards Board tentatively ruled to remove a project regarding identifiable intangible assets and subsequent accounting for goodwill from its technical agenda.
More from Regulatory Enforcement
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
-
News BriefCash App parent to pay $40 million for alleged BSA/AML violations in New York
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.