Deloitte-China to pay $20m penalty for asking audit clients to perform their own audit inspection

Selected clients were asked to collect their own samples and prepared workpapers for audit work.

The Securities and Exchange Commission has charged Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China), the Chinese affiliate of the Deloitte global network of accounting firms, with a $20m penalty for failing to comply with fundamental US auditing requirements in both its component audits of US issuers and its audits

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