Deloitte and senior partner face FRC probe
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A hearing of the Disciplinary Tribunal of the Financial Reporting Council (FRC) is to consider a formal complaint against Deloitte and one of its partners.
The complaint concerns the conduct of Deloitte and partner John Clennett in relation to “certain aspects of the audit of the financial statements of Aero Inventory PLC and its subsidiary Aero Inventory (UK) Limited for the financial years ending 30 June 2006, 2007 and 2008”.
It is alleged that the conduct of Deloitte and Mr Clennett “fell significantly short of the standards reasonably to be expected of them as, respectively, a member firm and a member of the ICAEW and that they failed to comply with the requirements of the International Standards on Auditing (UK & Ireland)”.
The hearing relates to the investigation notified in FRC Notice PN 30 of 3 March 2011 and the delivery of a Formal Complaint in relation to Deloitte and Mr Clennett.
The matter is listed to be heard on the following dates: Monday 9 May 2016 to Thursday 26 May 2016, Monday 6 June 2016 to Tuesday 14 June 2016, and continuing if necessary on Wednesday 15 to Friday 17 June 2016.
The hearing will commence at 10.30 am on each day when the Tribunal is sitting.
The hearing venue is The International Dispute Resolution Centre Limited, 70 Fleet Street, London EC4Y 1EU.
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