LONDON (Reuters) – Britain’s accounting watchdog said on Tuesday it has opened an investigation into Deloitte’s auditing of bus and rail company Go-Ahead over six years.
The Financial Reporting Council said in a statement it has started the investigation into the audit conducted by Deloitte, one of the world’s ‘Big Four’ accounting firms, for Go-Ahead’s financial statements between 2016 and 2021.
Go-Ahead, which runs more than 6,000 buses in England and Britain’s largest passenger rail contract, said this month it plans to turn around underperforming businesses and grow in existing markets, which include Norway, Germany, Singapore and Ireland.
Go-Ahead’s new strategy comes after it was fined 23.5 million pounds in March by Britain’s transport department for overcharging by the operator’s London and Southeastern railway franchise.
(Reporting by Huw Jones; Editing by Kirsten Donovan)