Deloitte cleared after report into Phoenix Four over Rover collapse

DELOITTE, the accountants for failed carmaker MG Rover, got the all clear from the 850-word independent report on the collapse of the company, it emerged yesterday, despite charging the business &pound;30.7m in fees over five years.<br /><br />The news clears the auditor and tax advising firm after years of speculation that it could be reprimanded, having accepted high fees. <br />Concerns had arisen that the accountant&rsquo;s advice had led to the so-called &ldquo;Phoenix Four&rdquo; directors being able to claim excessive rewards from Rover.<br /><br />But the report by barrister Guy Newey and forensic accountant Gervase MacGregor, which cost &pound;16m,&nbsp; said there is no evidence that the high fees compromised its independence.