Accounting firm Deloitte & Touche has agreed to pay $50 million to settle issues involving its audits of Adelphia Communications, US regulators said today.
It is the largest payout ever by an accounting firm in a Securities and Exchange Commission enforcement case.
Deloitte, one of the Big Four accounting firms, will pay a penalty of $25 million and another $25 million in a related administrative proceeding, the SEC said.
The total will go into "a fund to compensate victims of Adelphia's fraud," it said.