- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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