The SEC imposed sanctions against four China-based accounting firms that had refused to turn over documents related to investigations of potential fraud. The China-based firms are members of large international networks associated with the “Big Four” accounting firms and include Deloitte Touche Tohmatsu Certified Public Accountants Limited, Ernst & Young Hua Ming LLP, KPMG Huazhen, andPricewaterhouseCoopers Zhong Tian CPAs Limited Company. Under the settlement, the firms each agreed to pay $500,000 and admit they did not produce documents before the proceedings were instituted against them in 2012. SEC
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