China has fined auditing firm Deloitte 211.9 million yuan ($30.8 million) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd, the finance ministry said on its website on Friday.

Deloitte’s Beijing operations also will be suspended for three months, the ministry said in a statement.

China Huarong and its investment arms were fined for internal governance lapses, risk control failures and severe inaccuracy of accounting information from 2014 to 2019, the statement added.