Today a £14 million fine was imposed on Deloitte & Touche for their advice to the MG Rover Group and the “Phoenix Four” directors.But as we watch another twist to the MG Rover drama unfold, it’s important to remember what was important then – and what is important now. That is the 6000+ MGR workers who lost their jobs in the collapse, and the communities whose identity “the Austin” factory defined for over a century. Although this fine will certainly hold Deloitte accountable for their actions, unfortunately it will not change what happened to the employees, and the local area, in the demise of MGR.
The £14 million must not only deter accountants from acting in this way again. It must mean change for the people, and the community, who suffered so much from the collapse of MGR and are still yet to be repaid.
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