Tribunal slashes record UK fine against Deloitte over MG Rover

April 13, 2015 3:49 PM

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LONDON, April 13 (Reuters) - A British tribunal has slashed a record 14 million pound ($20.5 million) fine on accountancy firm Deloitte in relation to work done for carmaker MG Rover Group, saying a key rule needed clarifying.

The case is being closely watched by auditors as it partly hinges on the need for accountants take the public interest into account in their work. Deloitte, one of the world's top four accountants, had argued it was unclear what regulators meant by this.

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