LONDON, Sept 9 Accountancy firm Deloitte has
been fined a record 14 million pounds ($22 million) for failing
to manage conflicts of interest in its advice to collapsed
British carmaker MG Rover Group.
The Financial Reporting Council, which brought the case
against Deloitte, said an independent tribunal has also backed
the watchdog's call for a severe reprimand of the company.
In July the tribunal found that all 13 allegations the FRC
had brought against Deloitte were proven.
The tribunal also agreed to a fine of 250,000 pounds for
Maghsoud Einollahi, a partner with Deloitte at the time. He has
also been banned from the profession for three years.
Deloitte said on Monday it still disagrees with the
tribunal's main conclusions.