US Public Company Accounting Oversight Board criticized the quality of the audit conducted by Deloitte British branch for companies registered in the United States.
It should be recalled, if the company of any country has a listing in American exchanges and undergoes an audit in its jurisdiction, the quality of such an audit should be checked by US Public Company Accounting Oversight Board.
Some of the violations detected were so significant that American controllers suggested that the auditors lacked sufficient evidence to reliably and impartially report all significant aspects of the conduct of the business of the audited companies, as Deloitte noted in its conclusions.
Representatives of the audit firm, in response to the claims of the American regulator, stated that they took into account all the comments and took the necessary measures to quickly resolve the mistakes. In an official letter to US Public Company Accounting Oversight Board, representatives of the British office of Deloitte reported that audit quality is the “number one priority” for the company. Deloitte’s investments in audit processes, policies, and quality control systems lead to significant improvements in the quality of audit and customer satisfaction, says the letter.