Deloitte’s Colombian arm has agreed to pay a $900,000 penalty to settle US audit board charges that the firm hadn’t completed vetting the books of Bancolombia S.A. when it issued the lender’s audit report.
Deloitte & Touche S.A.S. fell short of US independence rules when it produced the bank’s 2016 audit. Combined, those failures demonstrated that the firm’s internal quality controls failed to ensure that the firm had met US audit requirements, according to the settlement order the Public Company Accounting Oversight ...
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