Deloitte Slammed by Former Woolies Bosses
The former chairman and the former chief executive of Woolworths Group, Richard North and Steve Johnson, claim that Deloitte’s dual role as both adviser to Woolworths’ banking syndicate and administrator to the company when it collapsed last November constitutes a potential conflict of interest. They argue in the Telegraph that Deloitte’s objectivity could have been compromised by the higher fees it could earn as administrator, a role it was subsequently appointed to and which has made the …
The former chairman and the former chief executive of Woolworths Group, Richard North and Steve Johnson, claim that Deloitte’s dual role as both adviser to Woolworths’ banking syndicate and administrator to the company when it collapsed last November constitutes a potential conflict of interest.
They argue in the Telegraph that Deloitte’s objectivity could have been compromised by the higher fees it could earn as administrator, a role it was subsequently appointed to and which has made the company £3.8m in fees.
Deloitte have strongly denied the claims.
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