The Financial Reporting Council will investigate the audits of outsourcing company Mitie for 2015 and 2016, conducted by Deloitte, after posting a full-year loss and suffering costs of £88m.
Mitie Plc. Credit: Ed Robinson/OneRedEye
A financial regulator in the UK has launched a probe into the audit of troubled outsourcing company Mitie.
The Financial Reporting Council (FRC) said this morning it would investigate the audits of Mitie by Deloitte for the years ending 31st March 2015 and 2016.
Earlier this year, Mitie revealed it suffered a full-year loss after taking a charge of £88m. The charge followed a review of its financial statements, triggered by news that the company had used aggressive accounting policies.
Mitie said earlier in the year it would restate its 2015–2016 accounts.
The FRC said in a statement today: "An investigation into the audit by D
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