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.
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