Deloitte to pay $1 million to resolve SEC auditor independence rule charges

Deloitte & Touche LLP will pay more than $1 million to settle charges that it violated auditor independence rules, after its consulting arm maintained a relationship with a trustee who served on boards for funds Deloitte audited, U.S. regulators said. The Securities and Exchange Commission said the trustee, Andrew C. Boynton, and the funds' administrator ALPS Fund Services, also settled charges in the case. SEC rules require auditors to maintain a degree of independence from clients whose books they review.

Deloitte to pay $1 million to resolve SEC auditor independence rule charges source: http://finance.yahoo.com/news/deloitte-pay-1-million-resolve-183638558.html