Deloitte-China Case ‘Not Alone’ Among International Financial Standards Violations in China: Experts

Business environment under CCP fosters irregular financial dealings

The offices of Deloitte Touche Tohmatsu, at 2 New Square in London, on Oct. 2, 2018. Jack Taylor/Getty Images

The U.S. Securities and Exchange Commission (SEC) fined Deloitte-China $20 million on Sept. 29 for its failure to comply with basic U.S. audit requirements. Experts say the incident highlights the need for better oversight of Chinese audit firms.

Deloitte-China, also known as Deloitte Hua Yong, is the Chinese affiliate of international accounting firm Deloitte Touche Tohmatsu.