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Deloitte Creating Separate Board as Step Toward U.K. Audit Split

Sept. 11, 2020, 2:02 PM

Deloitte LLP announced plans for a new audit oversight structure, the first move by a big U.K. firm to comply with a regulatory agreement to split auditing from consulting.

Deloitte said on Friday it will set up an independent audit governance board to provide oversight of its U.K. audit practice. Starting in January, the board is to ensure the firm complies with a July agreement that the Financial Reporting Council, the U.K. audit watchdog, made with the Big Four firms, including Deloitte, for an operational separation of their audit business by 2024.

  • Baroness Margaret Ford, chair of ...

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