The Financial Reporting Council, the U.K. audit regulator, also fined two former Deloitte partners, after a tribunal found they failed to act with “competence and due care.” Deloitte also has to pay costs of 5.6 million pounds.
The so-called Big Four accounting firms are facing the most scrutiny since the collapse of Enron Corp. two decades ago after the failure of a handful of U.K. companies including