UK accounting regulator investigates Deloitte over Go-Ahead audits

Deloitte is under investigation by the UK accounting regulator over its audits of bus and rail operator Go-Ahead Group.

The Financial Reporting Council said on Tuesday that it was probing the Big Four auditor’s checks on Go-Ahead’s accounts for the six financial years ended between June 2016 and July 2021.

The regulator did not disclose the focus of its investigation, which it said was launched on March 22. The investigation would not relate to any individuals other than the statutory auditors who signed off the accounts in the relevant years, it said.

Go-Ahead’s shares were suspended from trading on the London Stock Exchange in January this year because it was unable to publish its financial results within the time allowed under market rules. The results were eventually published on February 24.

Deloitte said it would co-operate fully with the FRC’s investigation and was “committed to the highest standards of audit quality”.