FRC Launches Investigation Into Deloitte's Glencore Work

FRC Launches Investigation into Deloitte's Glencore Work

On Wednesday morning, the accountancy regulator announced that it has launched an investigation into Deloitte over audits related to the FTSE 100 giant Glencore. Glencore is one of the world’s largest commodity trading houses. Its operations span coal mining, energy trading and shipping, and it trades hundreds of billions of dollars in commodities every year through its trading and marketing arm. The Financial Reporting Council (FRC) commenced i…

Glencore Audits by Deloitte Probed by UK Watchdog

The UK’s accounting watchdog is investigating Deloitte LLP’s work on Glencore Plc and a UK unit, amid corruption scandals involving the commodity giant.

Deloitte under investigation by UK FRC over Glencore audits

The UK Financial Reporting Council (FRC) has initiated an investigation into Deloitte over its audits of mining group Glencore.   In a statement, the FRC said it has “commenced an investigation in relation to the statutory audits conducted by Deloitte of the financial statements of Glencore and Glencore Energy UK for the financial years ended 31 December 2013 to 31 December 2020”.  The investigation adds to the scrutiny Deloitte faces over its a…

Colombia's Petro threatens to alter Glencore contract over Israel coal exports

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Deloitte's Glencore audits probed

The U.K.'s accounting watchdog is investigating Deloitte LLP's work on Glencore Plc and a U.K. unit, amid corruption scandals involving the commodity giant.