China suspended the operations of Deloitte & Touche LLP’s Beijing office for three months and fined the firm after a review of its work on auditing of China Huarong Asset Management Co, news agency Bloomberg reported on Friday. Deloitte is fined 211.9 million yuan ($30.8 million), according to a statement released on the finance ministry website. China Huarong and its investment arms are fined for internal governance lapses, risk control failures, the statement added.
