Accounting giant Deloitte & Touche will pay a $2 million penalty to settle civil charges that it allowed a suspended auditor to continue working in the firm's public company audit practice, the U.S. audit watchdog said Tuesday. The Public Company Accounting Oversight Board, the body that polices auditors, said the fine matches a record penalty imposed by the board in another disciplinary matter. Previously, the PCAOB in 2008 took disciplinary action against individual auditor, Christopher Anderson, who settled the case and agreed to pay a $25,000 fine and accept a one-year suspension from the industry. [Reuters]
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