The Financial Reporting Council (FRC) has announced that Deloitte & Touche has been granted leave to appeal part of the decision of the independent Disciplinary Tribunal in relation to the MG Rover Group, which saw the firm fined a record £14m earlier this year.

Deloitte is now able to appeal against the tribunal's six findings in respect of the 'Project Aircraft' transaction, but the firm has been refused leave to challenge the seven findings in respect of 'Project Platinum'.

Project Aircraft relates to a process whereby the MG Rover Group's tax losses were offset against an aircraft leasing operation which was brought into the company.

In his notice on the appeal ruling Richard de Lacy QC said that in 'stark contrast' to their findings on Project Platinum, which was largely concerned with the sale of the former Rover car group to the 'Phoenix Four' investors, the inspectors' comments on Project Aircraft 'make virtually no reference to any conduct of the firm'.

Lacy also said that the tribunal's reasoning in respect of Project Aircraft is 'arguably flawed' because it attributes the consequences of the transaction to the conduct of Deloitte, which suggests that the firm should have foreseen that the proceeds of the project would not be used to benefit the Rover group.

A date for the appeal hearing will be announced in due course.