Britain's Financial Reporting Council said Deloitte's £11 million penalty over its audits of Go-Ahead Group was reduced due to the firm's 'exceptional cooperation' and admissions. (AFP pic)

LONDON: Accounting firm Deloitte has been fined £6.05 million (US$7.98 million) over its audits of transport operator Go-Ahead Group for the financial years between 2016 and 2020, Britain's Financial Reporting Council (FRC) said on Thursday.

The FRC said the financial penalty had been reduced from £11 million due to Deloitte's "exceptional cooperation" and admissions. Deloitte did not immediately respond to a request for comment.

Deloitte's fine relates to overpayments made by Britain's transport department to one of Go-Ahead Group's subsidiaries, London & South Eastern Railway (LSER), under a rail franchise agreement before Deloitte became auditor.