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The investigation is taking place due to corruption scandals connected to Glencore's operations, according to the Financial Times.
The watchdog announced that the investigation will encompass the years from 2013 to 2020. The council seeks to determine if Deloitte “sufficiently assessed compliance risks” throughout the audit.
In 2022, Glencore admitted to multiple infractions occurring in the US, UK, and Brazil. In that year, the company consented to pay a penalty of $1.5 billion related to accusations of corruption and market manipulation.
The regulator had earlier imposed a fine of £1.45 million ($2 million) on Deloitte for inconsistencies found in its 2016 audit of Mitie Group Plc.
source: ft.com
The watchdog announced that the investigation will encompass the years from 2013 to 2020. The council seeks to determine if Deloitte “sufficiently assessed compliance risks” throughout the audit.
In 2022, Glencore admitted to multiple infractions occurring in the US, UK, and Brazil. In that year, the company consented to pay a penalty of $1.5 billion related to accusations of corruption and market manipulation.
The regulator had earlier imposed a fine of £1.45 million ($2 million) on Deloitte for inconsistencies found in its 2016 audit of Mitie Group Plc.
source: ft.com
