China fines Deloitte, suspends Beijing operation for 3 months for auditing negligence
Published Fri, Mar 17, 2023 · 05:21 PM
CHINA’S finance ministry fined auditing firm Deloitte and suspended its Beijing operation for three months for failing to perform its duty in assessing the asset quality of China Huarong Asset Management, according to a statement released on the finance ministry website on Friday (Mar 17).
Deloitte is fined 211.9 million yuan (S$41.3 million), the Ministry of Finance said in the statement.
China Huarong and its investment arms are fined for internal governance lapses, risk control failures, the statement added. REUTERS
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