Financial Crime Financial Crime

Probe into Deloitte’s Serco audits closed after UK SFO’s criminal case collapses

By Phoebe Seers and Martin Coyle
  • 21 Feb 2023 10:58
  • 21 Feb 2023 10:58
The UK’s audit watchdog has closed its investigation into Deloitte’s audits of public services provider Serco Group and two Serco units. 

The Financial Reporting Council, which fined Deloitte 4.2 million pounds (around $5.1 million) for failings in its 2011 and 2012 audits of Serco Geografix, a unit focused on electronic monitoring equipment, said

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Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

Martin Coyle

Senior Correspondent

Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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