Deutsche Bank has found accounting problems in the way it calculated expenses for nearly 200 of its Scudder Investments family of funds, The Wall Street Journal reports.

An audit revealed that the investment manager charged some funds for expenses it should have absorbed, such as printing, accounting and legal costs, while in other cases, the funds should have borne the costs, according to SEC filings.

The bank has decided to correct the billing imbalance only for the current fiscal year and maintained that the discrepancies would have "no material impact to shareholders." To prevent this from happening again, Deutsche Bank is instituting new billing policies and controls. Deutsche acquired Scudder in 2002.


The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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