UK FRC Closes Deloitte Audit Investigation

Skip to main content Home News and events News Closure of investigation regarding the audit of Joules Group plc by Deloitte LLP News types: Investigations Published: 8 October 2026 This Press Notice concerns an investigation into one or more Statutory Auditor(s) and/or Statutory Audit Firm(s) [1] . The investigation did not relate to any persons or entities other than the relevant Statutory Auditor(s) and/or Statutory Audit Firm(s) and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities. The Financial Reporting Council (FRC) today announces the closure of its investigation into the audit conducted by Deloitte LLP of the consolidated financial statements of Joules Group plc for the year ended 30 May 2021. The investigation was opened under the Audit Enforcement Procedure (AEP), following a decision by the FRC’s Conduct Committee on 20 March 2023, and was announced on 9 May 2023. Having reviewed the evidence obtained in the investigation, and having considered all relevant factors, the FRC’s Executive Counsel has decided not to bring Enforcement Action. Therefore, in accordance with Rule 146 of the AEP, Executive Counsel has decided that the Respondents to the investigation should no longer be liable for Enforcement Action. Accordingly, the case has been closed. Defined terms in this press notice refer to terms defined in the FRC’s Audit Enforcement Procedure.