Deloitte & Touche (South Africa) Dec. 13 agreed to pay approximately $247,000 in disgorgement plus prejudgment interest to settle Securities and Exchange Commission administrative allegations that it had an “independence-impairing business relationship” with the director of an audit client.
DT-SA also consented without admitting or denying wrongdoing to cease and desist from future violations, the SEC said in In re Deloitte & Touche (South Africa) (Administrative Proceeding File No. 3-15129).
According to the SEC, DT-SA’s wholly owned consulting affiliate, Deloitte Consulting (Pty) Ltd., entered into a consulting contract with an independent contractor in April 2006. “At that time, ...
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