Auditing watchdog tears into Deloitte over Abil rights issue

Business

Auditing watchdog tears into Deloitte over Abil rights issue

Concerns about bank not disclosed to shareholders, who saw African Bank go under eight months later

Londiwe Buthelezi

Would investors who bought African Bank’s shares in a 2013 rights issue have stayed away from the bank had they known that it would go into curatorship eight months later?

Logic says probably, and so does the auditing watchdog.

Deloitte spent most of last week defending the 10 charges the Independent Regulatory Board for Auditors has levelled against two senior audit partners who audited the bank’s financial statements in the years leading up to 2014...

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