Deloitte Hit With Record $2M Fine For Breaking Audit Rules

Law360, Los Angeles (October 22, 2013, 8:18 PM EDT) -- Deloitte & Touche LLP will pay a $2 million penalty to a U.S. audit watchdog and be censured for allowing a former partner to keep working for the company as a salaried director, despite an agency order that he be suspended, the watchdog announced Tuesday.

The Public Company Accounting Oversight Board said the accounting giant violated board rules and federal law by allowing Christopher E. Anderson to continue working on audit reports for Deloitte despite a yearlong suspension brought against him in October 2008.

Anderson was...
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