The accounting unit of Deloitte in China, Deloitte Touche Tohmatsu CPA, LTC asked a federal court to dismiss a case filed by Securities and Exchange Commission (SEC) to secure audit work papers from the company.
Deloitte Touche Tohmatsu Argues
In a court filing on Tuesday, Deloitte Touche Tohmatsu argued that U.S. regulators have other options to obtain the required documents for its fraud investigation without a court order. China stepped in to resolve the controversy surrounding the Chinese companies, and agreed to allow U.S. regulators to access and review audit work papers from Chinese auditors. The SEC is investigating Longtop Financial Technologies Ltd (NYSE:LFT), a client of Deloitte Touche Tohmatsu.