Saudi Arabia's regulator bars Deloitte from audit work for 2 years over MMG case

Riyadh

SAUDI Arabia's market regulator said it had barred the local unit of New York-based accountancy firm Deloitte & Touche from providing accounting services in the kingdom for two years for breaching rules on accumulated losses.

The move by the Capital Market Authority's (CMA) Committee for the Resolution of Securities Disputes stepped up penalties already imposed on Deloitte over a long-running case involving …