Deloitte-China Ordered to Pay $20 Million SEC Fine

Deloitte-China agreed to pay a $20 million fine to settle charges with the U.S. Securities and Exchange Commission that the firm asked its clients to conduct their own audit work. Tim Boyle/Getty Images

The SEC has issued a $20 million fine against Deloitte-China, for failing to comply with U.S. audit requirements.

In a Sept. 29 announcement, the Securities and Exchange Commission (SEC) penalized Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China) for “failing to comply with fundamental U.S. auditing requirements in its component audits of U.S. issuers and its audits of foreign companies listed on U.S. exchanges.”