Deloitte Cited For Not Disclosing Auditor Financial Ties (1)

Deloitte & Touche LLP partners and staffers failed to make financial disclosures required to ensure the independence of their audit work, according to new details from the Big Four firm’s 2018 audit regulatory inspection.

Deloitte also didn’t fix these problems quickly enough, the Public Company Accounting Oversight Board said in expanded audit inspectionreport released Tuesday. The regulator doesn’t release the typically confidential quality control review findings unless firms don’t correct problems within 12 months of the original report date. The original report was published in April 2020.

Deloitte said it was “intensely” focused on strengthening its quality ...