Watchdog gives Deloitte £14m fine

Press Association

Accountant Deloitte has been fined £14 million by the industry watchdog over "persistent" failings in its dealings with collapsed car manufacturer MG Rover.

The Financial Reporting Council (FRC) fined and severely reprimanded the "big four" accountant after ruling it did not spot conflicts of interest in its advice to MG Rover and directors who bought the company before its failure.