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SEC fines Deloitte China for letting clients conduct own audit tasks

Financial Times LogoFinancial Times2 mo ago

SEC fines Deloitte China for letting clients conduct own audit tasks - Financial Times

Quick Summary:

As part of the settlement, an independent consultant must review Deloitte China’s policies and procedures and the business must complete further annual reviews.

The settlement includes the highest penalty levied by the SEC against a Big Four accounting firm or affiliate relative to its audit revenue, the agency said.

China’s regulators have for years resisted such oversight by the US body charged with maintaining audit standards, but signed a deal allowing access last month in a rare concession from Beijing.


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Article Details

Author / Journalist: Stefania Palma

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 15:41:45 (2 months ago)

News Timezone: GMT -5:00

Ranking: #817 (out of 3414 stories this day)

News Source URL: ft.com

Language: English

Article Length: 588 words

Reading Time: 4 minutes read

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 622084

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #3

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