FRC to fine Deloitte £440k over 2018 audit

The sanction has been accepted by Deloitte, while the committee has also accepted written undertakings proposed by the accountancy firm

The Financial Reporting Council’s Audit Quality team has issued a notice of a proposed sanction on Deloitte, proposing a regulatory penalty of £440k after it was determined that the Big Four firm failed to comply with the auditing framework in its audit of a listed company’s 2018 financial statements. 

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