By Jeremy Hodges | Updated on Oct 08, 2026 at 09:02 AM
Deloitte LLP was hit with a more than £6 million ($7.9 million) fine by a UK regulator over the The Go-Ahead Group Ltd.
The Financial Reporting Council said on Thursday that Deloitte “failed to enquire sufficiently failed to apply sufficient professional skepticism, and failed to evaluate the evidence indicating the existence of fraud risk factors,” when auditing subsidiaries of the transport group.
The audits carried out between the 2016 and 2020 financial years didn’t meet the standards required by the FRC. The fine was reduced from £11 million for Deloitte’s cooperation and early admissions, the regulator said.
The FRC said it also closed a separate probe of the 2021 financial year audits of the firm.
“We regret that aspects of our audit work did not meet the standards expected and have learned from this matter,” Deloitte UK said in a statement. “We are committed to continuous improvement and the delivery of high quality audits.”
A consortium led by Kinetic Group and Globalvia Inversiones SA took Go-Ahead Group private for £714 million in 2022.