By Kyle Brasseur2022-12-22T18:02:00
Deloitte received a penalty of 906,250 pounds (U.S. $1.1 million) for evidence failures regarding supplier rebates and cash uncovered in its 2015 and 2016 financial year audits at British-based specialist building product distributor SIG.
The Big Four firm was reprimanded by the U.K. Financial Reporting Council (FRC) on Thursday. It received a 27.5 percent discount on an initial penalty of £1,250,000 (U.S. $1.5 million) for admission and cooperation, including a declaration its FY2015 and FY2016 audit reports at SIG did not meet relevant requirements.
Simon Manning, the Deloitte engagement partner on the audit, received a discounted penalty of £36,250 (U.S. $43,600) and reprimand from the FRC.
2023-01-19T15:10:00Z By Kyle Brasseur
The U.K. Financial Reporting Council launched an investigation into Big Four audit firm EY’s work at Scotland-based Stirling Water Seafield Finance.
2022-09-29T20:36:00Z By Adrianne Appel
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.
2022-04-26T19:11:00Z By Kyle Brasseur
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.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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