Deloitte probed by UK watchdog over Glencore audits

Deloitte said it was ‘committed to the highest standards of audit quality’ and would ‘fully co-operate’ with the FRC investigation

The UK accounting regulator has launched an investigation into Deloitte over its auditing of Glencore, following a corruption scandal at the FTSE 100 mining and commodities trading group.

The Financial Reporting Council said on Wednesday it was probing whether Deloitte “gave sufficient consideration to the risk of non-compliance with laws and regulations” when it signed off Glencore’s accounts between 2013 and 2020.