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Wikipedia

Deloitte

February 07, 2023

For the dance music group, see Deee-Lite.

Deloitte Touche Tohmatsu Limited (/dəˈlɔɪt ˈtuːʃ toʊˈmɑːtsuː/), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC).[6][7]

Deloitte Touche Tohmatsu Limited
Deloitte
TypeUK private company limited by guarantee[1]
IndustryProfessional services
Founded1845; 178 years ago (1845) in London, England
FounderWilliam Welch Deloitte
HeadquartersLondon, England
Area served
Worldwide
Key people
Services
Revenue US$59.3 billion (2022)[4]
Number of employees
415,000 (2022)[5]
Websitedeloitte.com

The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890.[8] It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte.[8] In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte.[9] Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in January 2013.[10] The international firm is a UK private company, limited by guarantee, supported by a network of independent legal entities.[11]

Deloitte provides audit, consulting, financial advisory, risk advisory, tax, and legal services with approximately 415,000 professionals globally.[5] In FY 2021, the network earned revenues of US$50.2 billion in aggregate.[4] As of 2020, Deloitte is the third-largest privately-owned company in the United States, according to Forbes.[12] The firm has sponsored a number of activities and events including the 2012 Summer Olympics.[13]

Controversies involving the firm, in addition to litigation surrounding a few of its audits, have included its involvement in a "potentially misleading" report on illicit tobacco trading in Australia,[14] the fact that it suffered a major cyber-attack which breached client confidentiality as well as exposing extensive employee information in September 2017,[15] its role as internal auditor of the insolvent contractor Carillion[16] and its role as external auditor of Autonomy which was accused of "accounting improprieties" that contributed to an £8.8 billion write-down of value following its acquisition by Hewlett-Packard in 2011.[17]

History

Early history

In 1845, William Welch Deloitte opened an office in London, United Kingdom. Deloitte was the first person to be appointed an independent auditor of a public company, namely the Great Western Railway.[8] He went on to open an office in New York in 1880.[8]

In 1890, Deloitte opened a branch office on Wall Street headed by Edward Adams and P.D. Griffiths as branch managers. That was Deloitte's first overseas venture. Other branches were soon opened in Chicago and Buenos Aires. In 1898 P.D. Griffiths returned from New York and became a partner in the London office.[18]

In 1896, Charles Waldo Haskins and Elijah Watt Sells formed Haskins & Sells in New York.[8] It was later described as "the first major auditing firm to be established in the country by American rather than British accountants".[19]

In 1898, George Touche established an office in London and then, in 1900, joined John Ballantine Niven in establishing the firm of Touche Niven in the Johnston Building at 30 Broad Street in New York.[8]

On 1 March 1933, Colonel Arthur Hazelton Carter, President of the New York State Society of Certified Public Accountants and managing partner of Haskins & Sells, testified before the U.S. Senate Committee on Banking and Currency. Carter helped convince Congress that independent audits should be mandatory for public companies.[8]

 
William Welch Deloitte, founder of Deloitte

In 1947, Detroit accountant George Bailey, then president of the American Institute of Certified Public Accountants, launched his own organization. The new entity enjoyed such a positive start that in less than a year, the partners merged with Touche Niven and A. R. Smart to form Touche, Niven, Bailey & Smart.[8] Headed by Bailey, the organization grew rapidly, in part by creating a dedicated management consulting function. It also forged closer links with organizations established by the co-founder of Touche Niven, George Touche: the Canadian organization Ross and the British organization George A. Touche.[8] In 1960, the firm was renamed Touche, Ross, Bailey & Smart, becoming Touche Ross in 1969.[8] In 1968 Nobuzo Tohmatsu formed Tohmatsu Aoki & Co, a firm based in Japan that was to become part of the Touche Ross network in 1975.[8] In 1972 Robert Trueblood, Chairman of Touche Ross, led the committee responsible for recommending the establishment of the Financial Accounting Standards Board.[8]

In 1972, Deloitte's firm (by then known as Deloitte, Plender, Griffiths & Co.) merged with Haskins & Sells to form Deloitte Haskins & Sells.[20]

In 1989, Deloitte Haskins & Sells merged with Touche Ross in the US to form Deloitte & Touche. The merged firm was led jointly by J. Michael Cook and Edward A. Kangas. Led by the UK partnership, a smaller number of Deloitte Haskins & Sells member firms rejected the merger with Touche Ross and shortly thereafter merged with Coopers & Lybrand to form Coopers & Lybrand Deloitte (later to merge with Price Waterhouse to become PwC).[21] Some member firms of Touche Ross also rejected the merger with Deloitte Haskins & Sells and merged with other firms.[21] In the UK, Touche Ross merged with Spicer & Oppenheim in 1990.[22]

Recent history

At the time of the US-led mergers to form Deloitte & Touche, the name of the international firm was a problem, because there was no worldwide exclusive access to the names "Deloitte" or "Touche Ross" – key member firms such as Deloitte in the UK and Touche Ross in Australia had not joined the merger. The name DRT International was therefore chosen, referring to Deloitte, Ross and Tohmatsu. In 1993, the international firm was renamed Deloitte Touche Tohmatsu.[8]

 
Deloitte Office Building in Downtown Chicago

In 1995, the partners of Deloitte & Touche decided to create Deloitte & Touche Consulting Group (now known as Deloitte Consulting).[23]

In 2000, Deloitte acquired Eclipse to add internet design to its consulting capabilities. Eclipse was later separated into Deloitte Online and Deloitte Digital.[24]

In 2002, Arthur Andersen's UK practice, the firm's largest practice outside the US, agreed to merge with Deloitte's UK practice. Andersen's practices in Spain, the Netherlands, Portugal, Belgium, Mexico, Brazil and Canada also agreed to merge with Deloitte.[9][25] The spinoff of Deloitte France's consulting division led to the creation of Ineum Consulting.[26]

In 2005, Deloitte acquired Beijing Pan-China CPA to become the largest accountancy firm in China. Just prior to this acquisition Deloitte China had about 3,200 employees. This acquisition was part of a five-year plan to invest $150 million in China. Deloitte has had a presence in China since 1917.[27]

In 2007, Deloitte began hiring former employees of the Central Intelligence Agency (CIA) for their competitive intelligence unit known as Deloitte Intelligence.[28]

In 2009, Deloitte purchased the North American public service practice of BearingPoint (formerly KPMG Consulting) for $350 million after it filed for bankruptcy protection.[29]

Deloitte LLP took over the UK property consultants Drivers Jonas in January 2010. As of 2013, this business unit was known as Deloitte Real Estate.[30]

In 2011, Deloitte acquired DOMANI Sustainability Consulting and ClearCarbon Consulting in order to expand its sustainability service offerings.[31]

In January 2012, Deloitte announced the acquisition of Übermind, a mobile advertising agency.[32] The acquisition marked Deloitte's first entrance into the mobile application field.[33]

In November 2012, Deloitte acquired Recombinant Data Corporation, a company specializing in data warehousing and clinical intelligence software, and launched Recombinant by Deloitte.[34] In February 2013 Recombinant by Deloitte merged with an internal informatics unit (Deloitte Health Informatics) and launched ConvergeHEALTH by Deloitte.[35]

On 11 January 2013, Deloitte purchased substantially all of the business of Monitor Group,[10] the strategy consulting firm founded by Harvard Business School professor Michael Porter, after Monitor filed for bankruptcy protection.[36]

In 2014, the company introduced Rubix, a blockchain consultancy providing advisory services for clients in different business sectors, including government. In 2016 the company created its first blockchain lab in Dublin. A second hub was launched in New York in January 2017. In 2016, Deloitte Canada set-up a Bitcoin automatic teller machine and equipped a restaurant in its office complex to accept bitcoin as payment. Deloitte CIS partnered with Waves Platform to offering services related to initial coin offerings. Deloitte became a member of the Ethereum Enterprise Alliance and the Hyperledger Project sponsored by the Linux Foundation in May 2017.[37]

In 2016, Deloitte acquired advertising agency Heat of San Francisco, best known for its work Madden NFL from EA Sports and the Hotwire travel website. Heat was the 11th digital marketing agency purchased by Deloitte Digital since its founding in 2012. As of 2016, Deloitte Digital had 7,000 employees. It billed $2.1 billion in 2015, making it one of world's largest digital agencies.[38][39]

In September 2016, Apple Inc. announced a partnership with Deloitte aimed at boosting sales of its phones and other mobile devices to businesses. As part of the partnership, the two companies will launch a service called Enterprise Next, in which more than 5,000 Deloitte consultants will advise clients on how to make better use of Apple products and services.[40][41][42]

In October 2016, Deloitte announced that they were creating Deloitte North West Europe. The Belgian, Danish, Dutch, Finnish, Icelandic, Norwegian, and Swedish member firms will combine with the UK and Swiss member firms to create Deloitte North West Europe. Deloitte, over the next three years, would invest €200m to enhance its services to its global, national and private market clients and to create development opportunities. The firm came into effect on 1 June 2017 and it is estimated to have 28,000 partners and people generating over €5bn in annual revenue. Deloitte North West Europe accounts for approximately 20% of all revenue within their Global Network.[43]

In March 2022, Deloitte announced that, as a result of the Russo-Ukrainian War, the firm would no longer carry out business in Russia or Belarus, and would separate its practices within these countries from its global network of firms.[44][45]

In March 2022, Deloitte acquired Etain, a data and digital transformation specialist company, based in Northern Ireland.[46]

The Wall Street Journal reported in June 2022 that the firm might choose to divide itself into two new companies, one accounting firm and one advisory firm.[47] The Wall Street Journal reported this potential change several weeks after reporting that Ernst & Young was considering a similar split.[47][48]

Name and branding

 
Deloitte logo (short form)

In 1989, Deloitte, Haskins & Sells merged in most countries with Touche Ross, forming Deloitte & Touche. However, in the United Kingdom, the local firm of Deloitte, Haskins & Sells merged instead with Coopers & Lybrand (later renamed PwC).[49]

While the full name of the UK private company is Deloitte Touche Tohmatsu Limited,[1] in 1989, it initially branded itself as DTT International. In 2003, the rebranding campaign was commissioned by William G. Parrett, the then-CEO of DTT, and led by Jerry Leamon, the global Clients and Markets leader.[50]

According to the company website, Deloitte now refers to the brand under which independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients.[51]

In 2008, Deloitte adopted its new "Always One Step Ahead" (AOSA) brand positioning platform to support the existing Deloitte vision: "To be the Standard of Excellence". AOSA represents the global organization's value proposition and is never used as a tagline. The recent launch of the Green Dot ad campaign also aligns with Deloitte's brand strategy and positioning framework.[52]

In June 2016, Deloitte changed its branding and adopted a new logo, with Deloitte written in black color instead of the earlier blue.[53]

In India, Deloitte operates under several brand names, including A.F.Ferguson &Co., A.F.Ferguson Associates, S.B.Billimoria, C.C.Choksi & Co., P.C.Hansotia, Fraser & Ross and Deloitte Haskins & Sells (India).[54]

Legal structure

For many years, the organization and its network of member firms were legally organized as a Swiss Verein (the equivalent of an unincorporated association). As of 31 July 2010, members of the Verein became part of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee without share capital.[1] Each member firm in its global network remains a separate and independent legal entity, subject to the laws and professional regulations of the particular country or countries in which it operates.[11]

This structure is similar to other professional services networks which seek to limit vicarious liability for acts of other members. As separate and legal entities, DTTL and its member firms cannot obligate each other. Professional services continue to be provided by member firms only and not DTTL. With this structure, the members should not be liable for the negligence of other independent members. This structure also allows them to be members of the IFAC Forum of Firms.[55]

In 2019, the UK partners in the firm received average pay of £882,000.[56]

Services

 
Deloitte office building in Milan

Deloitte member firms offer services in the following functions, with country-specific variations on their legal implementation (i.e., all operating within a single company or through separate legal entities operating as subsidiaries of an umbrella legal entity for the country).[57]

Audit

Audit provides the organization's traditional accounting and audit services, as well as internal auditing, IT control assurance and Media & Advertising Assurance.[58]

Investors in Guangdong Kelon Electrical Holdings Company Limited have claimed that there was a failure to alert them to the company's poor financial position.[59] Deloitte claims it did a good job on the project. Deloitte's global CEO defended the firm's work on the Kelon matter. The firm was the auditor for thirty months from 2002 to 2004. It qualified its opinion in 2004 as to company sales, returns, and allowances. The firm resigned from the Kelon account after completing the 2004 audit. Deloitte said it resigned from the account because management at the client was not committed to best practices in finance.[60]

Consulting

Consulting assists clients by providing services in the offering areas of Strategy, Analytics and M&A, Customer and Marketing, Core Business Operations, Human Capital, and Enterprise Technology and Performance. Consulting is Deloitte's largest business, bringing over 40% of total revenues in 2021.[4]

In An American Sickness (2017), Dr. Elisabeth Rosenthal attributed to Deloitte a key role in counseling the adoption of "strategic billing" as a way of increasing revenues from hospital business. She dates this development from 2005, when Deloitte hired Tommy Thompson, former secretary of health and human services, as chairman of its global healthcare practice.[61] In 2011, Deloitte was ranked No. 1 by revenue in all areas of healthcare consulting—life sciences, payer, provider, and government health.[62]

The firm implemented the SAP HR system for the Los Angeles Unified School District (LAUSD) for $95 million and because of faults in the system, some teachers were underpaid, overpaid, or not paid at all.[63][64] As of 31 December 2007, LAUSD had incurred a total of $140 million in payments to Deloitte to get the system working properly.[65] In 2008, there was some evidence that the payroll issues had started to stabilize with errors below 1% according to LAUSD's chief operating officer.[66]

The firm worked on a statewide case management system for the California Judicial Council which originally had a budget of around $260 million. Almost $500 million had been spent and costs were at one time projected to potentially run as high as $2 billion. No single court became fully operational.[67] California's Judicial Council terminated the project in 2012 citing actual deployment costs associated with the project and California's budget concerns.[68]

Financial advisory

Financial advisory provides corporate finance services to clients, including dispute, personal and commercial bankruptcy, forensics, e-discovery, document review, advisory, mergers & acquisitions, capital projects consulting and valuation services.[69]

Risk advisory

Risk advisory provides offerings in enterprise risk management, information security and privacy, data quality and integrity, strategic & reputation risk, regulatory risk, project risk and cyber risk, and business continuity management and sustainability.[70]

Deloitte also offers authentication of valuable items. Since 2001, Major League Baseball has contracted them to authenticate signed baseball memorabilia to prevent fraud.[71]

Tax and legal

Tax and legal helps clients increase their net asset value, undertake the transfer pricing and international tax activities of multinational companies, minimize their tax liabilities, implement tax computer systems, and provides advisory of tax implications of various business decisions.[72]

In November 2013, the international development charity ActionAid accused Deloitte of advising large businesses on how they could use Mauritius to avoid potentially hundreds of millions of dollars of tax in some of the poorest countries in Africa. Deloitte responded by saying that, in the absence of the double-taxation treaties, they advise their clients to avail themselves of arrangements that could result in less taxes being paid to the countries in question. Deloitte also said it was wrong to say it is tax avoidance to make use of provisions in double tax treaties and that without such treaties investment might be reduced.[73]

GovLab

GovLab is the internal think tank of Deloitte Consulting LLP's Federal Government consulting practice, focused on innovation and government reform. Created in 2010, GovLab is based at New York University in New York, New York,[74] and typically undertakes eight or nine research topics per year, focusing on how future trends, technologies, and business models will affect government.[75]

Offices

Deloitte operates across the world in more than 700 locations.[76][77]

Operations in India

In the late 1990s, Deloitte commenced operations in India, at the same time as another large auditing firm KPMG. In India, ICAI regulations do not permit foreign firms to carry out audits in India.[78] Hence Deloitte carries out audits in India under the name of C.C.Chokshi & Co., an existing auditing firm that it arranged an agreement with in 1998.[79] In 1992, after India was forced to liberalise under one of the conditions of the world bank and IMF sponsored bail out, Deloitte was granted a license to operate in India. In 2004, A. F. Ferguson & Co., which has been in India for 110 years, joined Deloitte, following CC Chokshi & Company, Fraser & Ross, PC Hansotia & Company and SB Billimoria & Company.[80]

In India, Deloitte has two entities: Deloitte India and Deloitte US-India (USI), which is a region within the Deloitte US organization. Deloitte India caters to clients within India, while Deloitte USI is an entity of Deloitte US that is geographically located in India and caters to clients of the US member firm.[81]

Awards and recognition

In 2019, Fortune magazine ranked Deloitte as one of the 100 Best Companies to Work For[82] and Bloomberg Business has consistently named Deloitte as the best place to launch a career.[83]

Deloitte, along with KPMG, PwC and PA Consulting Group were recognized among the UK's best companies to work for in 2017.[84]

Deloitte was named the #1 accounting firm for the tenth year in a row by Inside Public Accounting in August 2018.[85] Deloitte's tax services have been globally recognized by ITR, with the firm notably winning three consecutive best transfer pricing awards in the Americas.[86]

In 2017, Deloitte was ranked as one of the ten best places to work for paternity leave by Fatherly, an online resource for parenting news.[87]

In 2018, the research firm Gartner stated that Deloitte has been consistently ranked No. 1 globally in Security Consulting Services, based on revenue, for the past 5–6 years.[88]

In 2019, 2020 and 2021, Gartner stated that Deloitte was the No. 1 consulting service provider worldwide by revenue.[89][90][91]

Litigation and regulatory action

Adelphia Communications

The Securities and Exchange Commission announced on 26 April 2005 that Deloitte had agreed to pay $50 million to settle charges relating to Adelphia's 2000 financial statements.[92][93] The settlement was later reported to be as high as $210m or $167.5m.[94][95]

Canadian Bar Association

In September 2003, Deloitte reported to the Canadian Bar Association (CBA) that motor vehicle accident insurance claims for bodily injury had been declining since 1999 adjusted for inflation. This contradicted the government's and industry's argument that general damages for soft-tissue injury had to be capped at $4,000. Within hours of release, a member of Deloitte was communicating with Insurance Bureau of Canada without the knowledge of CBA (their client) and providing confidential information. The Institute of Chartered Accountants of Alberta found Deloitte guilty of unprofessional conduct and fined the firm $40,000.[96]

Livent

In proceedings arising from the insolvency of the former entertainment company Livent, in April 2014 its special receiver obtained judgment against Deloitte for $84,750,000 in the Ontario Superior Court of Justice, in relation to Deloitte's failure to exercise its duty of care with respect to the audit of Livent's financial statements during 1993–1998.[97] The ruling was upheld by the Ontario Court of Appeal in January 2016,[98][99][100] but in December 2017, the Supreme Court of Canada in Deloitte & Touche v Livent Inc (Receiver of) allowed an appeal in part, declaring that liability existed only in respect of Deloitte's negligence in conducting the audit for Livent's 1997 fiscal year, and accordingly reduced the amount of damages awarded to $40,425,000.[101]

Standard Chartered

In August 2012, Deloitte Financial Advisory Services (DFAS) publicly denied that as the official internal auditors for Standard Chartered, it helped the bank cover up money laundering operations related to Iran which were earning the bank significant profits by "intentionally omitting critical information".[102] DFAS paid the state of New York a $10 million settlement, was required not to take on new business for one year from designated New York banks, and was required to implement reforms in order to prevent similar problems in the future. The state regulator stated that there was no evidence DFAS intentionally helped Standard Chartered launder money.[103]

Netherlands regulator fine

During 2016, the Netherlands Authority for the Financial Markets (AFM) imposed an administrative fine of €1.81 million (~$2 million) on Deloitte's Dutch affiliate, Deloitte Accountants B.V. because it failed to comply with its duty of care in inspection audits.[104]

Banro Corporation audit independence fine

The Public Company Accounting Oversight Board fined Deloitte Canada $350,000 for failing to maintain its independence during three consecutive audits of a Canadian gold-mining company, Banro Corporation.[105]

Serco Geografix Ltd.

On 4 July 2019, the Financial Reporting Council (FRC) fined Deloitte for its failure to properly audit the accounts of a Serco Group's subsidiary, Serco Geografix, in 2011 and 2012. The United Kingdom's watchdog fined Deloitte with a £4.2 million and additional £300,000 towards the costs of the investigation.[106][107]

Deloitte's audit engagement partner Helen George was also fined £97,500. FRC stated that the two parties have been sanctioned for their failure to act in accordance with the fundamental principle of professional competence and due care.[108]

Autonomy

Following Autonomy's 2011 sale to Hewlett-Packard, the British software company was accused of accounting improprieties that contributed to an $8.8 billion write-down of Autonomy's value. In May 2018, the UK-Based Financial Reporting Council launched disciplinary action against Deloitte, Autonomy's auditor at the time of the sale. Deloitte Partners who led the audit were accused of failing to correct false and misleading information filed with the FRRP, and otherwise failing to act with objectivity during the course of the audit. The FRC's action followed legal proceedings in the US that found former Autonomy executive Sushovan Hussain guilty of fraud earlier that month.[17]

During 2020, Deloitte was fined a record £15 million and two of its former partners involved in the audits, Richard Knights and Nigel Mercer, were also fined and sanctioned by the UK accounting watchdog, the Financial Reporting Council (FRC).[109]

Bandar Malaysia Sdn Bhd

During 2019, the Malaysian regulator Securities Commission Malaysia (SC) reprimanded and imposed penalties of RM2.2 million (~$0.5 million) on Deloitte's Malaysian affiliate relating to the Islamic Finance RM2.4 billion ($0.6 billion) (Sukuk Murabahah Programme.[110]

Johnston Press audit

During 2020, the UK accounting regulator, Financial Reporting Council (FRC), fined Deloitte's UK affiliate £362,500 and reprimanded both the firm and an unnamed audit partner over failures in its audit work for Johnston Press.[111]

Rhode Island Benefits system

During 2020, Deloitte's US consulting arm agreed to pay the State of Rhode Island and the US Federal Government $50 million as a settlement relating to its design of a troubled computer system for its state benefits programs.[112]

Quality control failures in Canada

During 2021, the US Public Company Accounting Oversight Board (PCAOB) fined Deloitte's Canadian affiliate $350,000 as a civil penalty for failure to institute reasonable assurance quality controls.[113]

1MDB scandal

During 2021, Deloitte's Malaysia affiliate agreed to pay the Malaysia government $80 million to resolve all claims related to its auditing of accounts of scandal-linked state fund 1MDB and its unit SRC International from 2011 to 2014. Malaysian and U.S. authorities say at least $4.5 billion was stolen from 1MDB between 2009 and 2014 by high-level officials of the fund and their associates.[114]

Mitie plc

In April 2022, Deloitte's UK affiliate was fined £2 million by the UK accounting regulator, Financial Reporting Council, over 2016 audit of British outsourcing firm, Mitie plc.[115]

Deloitte Hua Yong

The Securities and Exchange Commission announced on 29 September 2022 that Shanghai-based Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China) had agreed to pay $20 million to settle charges relating to failures in complying with requirements for auditing US companies in China and Chinese companies in the US.[116] Deloitte-China, also known as Deloitte Hua Yong, self-reported the deficiencies found in 12 fiscal year 2018 audits.[117] Auditors asked clients to prepare their own paperwork to show that Deloitte-China had completed audits in at least 21 instances, creating the illusion that it followed relevant requirements when there was no evidence of it doing so.[118] For nine clients with operations in China, Deloitte's US office also outsourced its audit work to Deloitte China.[119]

SIG plc

In December 2022, Deloitte's UK affiliate was fined £0.9 million (approximately US$1.1 million) by Financial Reporting Council (FRC). The fine came as a result of the company failing to obtain and supply enough audit evidence testing, rebate terms and debtor balances in connection with the 2015/16 audit of the British subsidiary of Swiss building materials firm, SIG plc.[120]

Controversies

Australian tobacco industry

In 2011, Deloitte was commissioned by the tobacco industry to compile a report on illicit tobacco. The Australian Customs and Border Protection Service officials called the report "potentially misleading", and raised concerns about the "reliability and accuracy" of the data.[14] When a second Deloitte report focusing on counterfeit cigarettes was released, Home Affairs Minister Brendan O'Connor described the second report as "baseless and deceptive" and "bogus".[121] Public health officials criticised Deloitte's decision to conduct the research, as it added credibility to the tobacco industry's effort to undermine the Australian Government's plain cigarette packaging legislation.[122][123]

COVID-19 vaccine website and patent infringement

Deloitte was awarded a $44 million no-bid contract by the Centers for Disease Control and Prevention (CDC) in the United States to build a website to manage scheduling, inventory, and reporting for COVID-19 vaccination.[124] However, the website functioned poorly, leading very few states to adopt it for their vaccination management.[125][124]

In August 2020 a patent attorney for Tiffany Tate, the executive director of the Multi-State Partnership for Prevention (MSPP), issued a cease and desist letter accusing Deloitte and the CDC of stealing Tate's intellectual property for a mass vaccination tracker for use in tracking vaccinations for COVID-19. Tate earlier had demonstrated software to the CDC that would help automate key aspects of delivering mass vaccinations. Deloitte was present during that presentation and was identified by the CDC as a consultant. Eventually Deloitte received the technical specifications of the software. At the time that Tate demonstrated the software, the CDC indicated that it "did not have a workflow for handling vaccine distribution". Less than one week later the CDC announced its intention to build tracking software. Under the Trump administration the CDC awarded a no bid contract to Deloitte to build a vaccine administration management system, even though MSPP had offered such a system at a lower price. Later the CDC awarded a second contract to Deloitte, with both contracts totaling US$43.9 million. Tate's attorney said that Deloitte's system "has the identical structure, mirrors the functionality, and duplicates the same features" as MSPP's system. The attorney also commented that Deloitte tried to hire Ms. Tate to work on the project.[126][127]

E-mail hack

In September 2017, The Guardian reported that Deloitte suffered a cyberattack that breached the confidentiality of its clients and 244,000 staff, allowing the attackers to access "usernames, passwords, IP addresses, architectural diagrams for businesses and health information". Reportedly, Deloitte had stored the affected data in Microsoft's Azure cloud hosting service, without two-step verification. The attackers were thought to possibly have had access from as early as October 2016.[15] Brian Krebs reported that the breach affected all of Deloitte's email and administrative user accounts.[128][129] A later report by The Wall Street Journal repeated Deloitte's statement that only a few clients were affected. Deloitte said that neither its services nor its clients' businesses were disrupted. Deloitte reportedly first noticed suspicious activity in April 2017. Deloitte said that no sensitive information was compromised and that its investigators were eventually able to read every email obtained by the hackers.[130]

In October 2017, The Guardian reported that client accounts compromised in the breach included, but were not limited to, the US Department of Defense, the US Department of Homeland Security, the US State Department, the US Department of Energy, mortgage companies Fannie Mae and Freddie Mac, the National Institutes of Health (NIH), and the US Postal Service.[131] Fannie Mae and Freddie Mac issued statements saying they were not affected by the attack and denied that any of their data was compromised.[132]

Deloitte said that it immediately contacted legal authorities and six clients. Deloitte also increased security measures on the advice of both internal and external experts.[133] As of October 2017, the New York attorney general's office was investigating the hack.[130]

Carillion

Deloitte had acted as internal auditor at construction and services giant Carillion before it went into liquidation in January 2018. The "excoriating" and "damning" (The Guardian)[134] final report of the Parliamentary inquiry into Carillion's collapse was published on 16 May 2018, and criticised Deloitte for its involvement in the company's financial reporting practices:

"Deloitte were responsible for advising Carillion’s board on risk management and financial controls, failings in the business that proved terminal. Deloitte were either unable to identify effectively to the board the risks associated with their business practices, unwilling to do so, or too readily ignored them."[16]

The select committee chairs (Frank Field and Rachel Reeves) called for a complete overhaul of Britain's corporate governance regime, accusing the big four accounting firms of operating as a "cosy club".[134] Deloitte said it was "disappointed" with the committees' conclusions regarding its role as internal auditors, but would take on board any lessons that could be learned from Carillion's collapse.[134]

State unemployment portals

Deloitte Consulting has been heavily involved in building unemployment insurance web portals across various states, including Ohio, Colorado and Illinois. In May 2020, following a wave of applications resulting from the COVID-19 pandemic, it was revealed that major security weaknesses existed in the web portals of these states. Personal information of unemployed applicants, including addresses and social security numbers, were exposed and viewable by the public. Following the revelation, proposed class actions were filed against the company.[135]

The controversy follows similar short-fallings in Florida's unemployment portal. The CONNECT site, designed by Deloitte, was described as a "colossal failure" as it was created over-budget, delivered late, and did not work. Again, individuals laid off during the COVID pandemic were particularly vulnerable as they were out of jobs and unable to receive unemployment assistance. In May 2020, an investigation was ordered by Florida Governor Ron DeSantis.[136]

Sponsorships

Deloitte LLP serves as the official professional services sponsor of the United States Olympic Committee since 2009.[137] The UK member firm of Deloitte was a sponsor of the 2012 Summer Olympics[13] and the Royal Opera House.[138] The Canadian member firm was also the official professional services supplier for the 2010 Vancouver Winter Olympic Games[139] and 2010 Winter Paralympic Games.[140] In Asia, the Singapore member firm of Deloitte was a sponsor of the 2010 Summer Youth Olympics.[141] The Australian member firm of Deloitte is a Founding Partner of Invictus Games Sydney 2018, and a Principal from the firms Consulting practice is CEO of the not-for-profit entity delivering the Games.[142][143]

Moreover, Deloitte sponsors many university sports teams and societies, such as Edinburgh University Hockey Club.[144] It also entered into a 3-year partnership with the Cambridge Union Society in November 2013.[145]

See also

References

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Further reading

  • Foye, Arthur Bevins (1970). Haskins & Sells: Our first seventy-five years (PDF). Haskins and Sells Publications.
  • Richards, Archibald C. Touche Ross & Co 1899-1981, London, 1981

External links

 
Wikimedia Commons has media related to Deloitte.
  • Official website  

February 07, 2023
deloitte, dance, music, group, deee, lite, touche, tohmatsu, limited, ɔɪ, ɑː, commonly, referred, international, professional, services, network, headquartered, london, england, largest, professional, services, network, revenue, number, professionals, world, c. For the dance music group see Deee Lite Deloitte Touche Tohmatsu Limited d e ˈ l ɔɪ t ˈ t uː ʃ t oʊ ˈ m ɑː t s uː commonly referred to as Deloitte is an international professional services network headquartered in London England Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY Ernst amp Young KPMG and PricewaterhouseCoopers PWC 6 7 Deloitte Touche Tohmatsu LimitedTrade nameDeloitteTypeUK private company limited by guarantee 1 IndustryProfessional servicesFounded1845 178 years ago 1845 in London EnglandFounderWilliam Welch DeloitteHeadquartersLondon EnglandArea servedWorldwideKey peopleSharon Thorne Chairperson Deloitte Global 2 Joseph B Ucuzoglu CEO Deloitte Global 3 ServicesAuditManagement consultingFinancial advisoryRisk advisoryTaxLegalRevenueUS 59 3 billion 2022 4 Number of employees415 000 2022 5 Websitedeloitte wbr comThe firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890 8 It merged with Haskins amp Sells to form Deloitte Haskins amp Sells in 1972 and with Touche Ross in the US to form Deloitte amp Touche in 1989 In 1993 the international firm was renamed Deloitte Touche Tohmatsu later abbreviated to Deloitte 8 In 2002 Arthur Andersen s practice in the UK as well as several of that firm s practices in Europe and North and South America agreed to merge with Deloitte 9 Subsequent acquisitions have included Monitor Group a large strategy consulting business in January 2013 10 The international firm is a UK private company limited by guarantee supported by a network of independent legal entities 11 Deloitte provides audit consulting financial advisory risk advisory tax and legal services with approximately 415 000 professionals globally 5 In FY 2021 the network earned revenues of US 50 2 billion in aggregate 4 As of 2020 update Deloitte is the third largest privately owned company in the United States according to Forbes 12 The firm has sponsored a number of activities and events including the 2012 Summer Olympics 13 Controversies involving the firm in addition to litigation surrounding a few of its audits have included its involvement in a potentially misleading report on illicit tobacco trading in Australia 14 the fact that it suffered a major cyber attack which breached client confidentiality as well as exposing extensive employee information in September 2017 15 its role as internal auditor of the insolvent contractor Carillion 16 and its role as external auditor of Autonomy which was accused of accounting improprieties that contributed to an 8 8 billion write down of value following its acquisition by Hewlett Packard in 2011 17 Contents 1 History 1 1 Early history 1 2 Recent history 2 Name and branding 3 Legal structure 4 Services 4 1 Audit 4 2 Consulting 4 3 Financial advisory 4 4 Risk advisory 4 5 Tax and legal 4 6 GovLab 5 Offices 5 1 Operations in India 6 Awards and recognition 7 Litigation and regulatory action 7 1 Adelphia Communications 7 2 Canadian Bar Association 7 3 Livent 7 4 Standard Chartered 7 5 Netherlands regulator fine 7 6 Banro Corporation audit independence fine 7 7 Serco Geografix Ltd 7 8 Autonomy 7 9 Bandar Malaysia Sdn Bhd 7 10 Johnston Press audit 7 11 Rhode Island Benefits system 7 12 Quality control failures in Canada 7 13 1MDB scandal 7 14 Mitie plc 7 15 Deloitte Hua Yong 7 16 SIG plc 8 Controversies 8 1 Australian tobacco industry 8 2 COVID 19 vaccine website and patent infringement 8 3 E mail hack 8 4 Carillion 8 5 State unemployment portals 9 Sponsorships 10 See also 11 References 12 Further reading 13 External linksHistory EditEarly history Edit In 1845 William Welch Deloitte opened an office in London United Kingdom Deloitte was the first person to be appointed an independent auditor of a public company namely the Great Western Railway 8 He went on to open an office in New York in 1880 8 In 1890 Deloitte opened a branch office on Wall Street headed by Edward Adams and P D Griffiths as branch managers That was Deloitte s first overseas venture Other branches were soon opened in Chicago and Buenos Aires In 1898 P D Griffiths returned from New York and became a partner in the London office 18 In 1896 Charles Waldo Haskins and Elijah Watt Sells formed Haskins amp Sells in New York 8 It was later described as the first major auditing firm to be established in the country by American rather than British accountants 19 In 1898 George Touche established an office in London and then in 1900 joined John Ballantine Niven in establishing the firm of Touche Niven in the Johnston Building at 30 Broad Street in New York 8 On 1 March 1933 Colonel Arthur Hazelton Carter President of the New York State Society of Certified Public Accountants and managing partner of Haskins amp Sells testified before the U S Senate Committee on Banking and Currency Carter helped convince Congress that independent audits should be mandatory for public companies 8 William Welch Deloitte founder of Deloitte In 1947 Detroit accountant George Bailey then president of the American Institute of Certified Public Accountants launched his own organization The new entity enjoyed such a positive start that in less than a year the partners merged with Touche Niven and A R Smart to form Touche Niven Bailey amp Smart 8 Headed by Bailey the organization grew rapidly in part by creating a dedicated management consulting function It also forged closer links with organizations established by the co founder of Touche Niven George Touche the Canadian organization Ross and the British organization George A Touche 8 In 1960 the firm was renamed Touche Ross Bailey amp Smart becoming Touche Ross in 1969 8 In 1968 Nobuzo Tohmatsu formed Tohmatsu Aoki amp Co a firm based in Japan that was to become part of the Touche Ross network in 1975 8 In 1972 Robert Trueblood Chairman of Touche Ross led the committee responsible for recommending the establishment of the Financial Accounting Standards Board 8 In 1972 Deloitte s firm by then known as Deloitte Plender Griffiths amp Co merged with Haskins amp Sells to form Deloitte Haskins amp Sells 20 In 1989 Deloitte Haskins amp Sells merged with Touche Ross in the US to form Deloitte amp Touche The merged firm was led jointly by J Michael Cook and Edward A Kangas Led by the UK partnership a smaller number of Deloitte Haskins amp Sells member firms rejected the merger with Touche Ross and shortly thereafter merged with Coopers amp Lybrand to form Coopers amp Lybrand Deloitte later to merge with Price Waterhouse to become PwC 21 Some member firms of Touche Ross also rejected the merger with Deloitte Haskins amp Sells and merged with other firms 21 In the UK Touche Ross merged with Spicer amp Oppenheim in 1990 22 Recent history Edit At the time of the US led mergers to form Deloitte amp Touche the name of the international firm was a problem because there was no worldwide exclusive access to the names Deloitte or Touche Ross key member firms such as Deloitte in the UK and Touche Ross in Australia had not joined the merger The name DRT International was therefore chosen referring to Deloitte Ross and Tohmatsu In 1993 the international firm was renamed Deloitte Touche Tohmatsu 8 Deloitte Office Building in Downtown Chicago In 1995 the partners of Deloitte amp Touche decided to create Deloitte amp Touche Consulting Group now known as Deloitte Consulting 23 In 2000 Deloitte acquired Eclipse to add internet design to its consulting capabilities Eclipse was later separated into Deloitte Online and Deloitte Digital 24 In 2002 Arthur Andersen s UK practice the firm s largest practice outside the US agreed to merge with Deloitte s UK practice Andersen s practices in Spain the Netherlands Portugal Belgium Mexico Brazil and Canada also agreed to merge with Deloitte 9 25 The spinoff of Deloitte France s consulting division led to the creation of Ineum Consulting 26 In 2005 Deloitte acquired Beijing Pan China CPA to become the largest accountancy firm in China Just prior to this acquisition Deloitte China had about 3 200 employees This acquisition was part of a five year plan to invest 150 million in China Deloitte has had a presence in China since 1917 27 In 2007 Deloitte began hiring former employees of the Central Intelligence Agency CIA for their competitive intelligence unit known as Deloitte Intelligence 28 In 2009 Deloitte purchased the North American public service practice of BearingPoint formerly KPMG Consulting for 350 million after it filed for bankruptcy protection 29 Deloitte LLP took over the UK property consultants Drivers Jonas in January 2010 As of 2013 this business unit was known as Deloitte Real Estate 30 In 2011 Deloitte acquired DOMANI Sustainability Consulting and ClearCarbon Consulting in order to expand its sustainability service offerings 31 In January 2012 Deloitte announced the acquisition of Ubermind a mobile advertising agency 32 The acquisition marked Deloitte s first entrance into the mobile application field 33 In November 2012 Deloitte acquired Recombinant Data Corporation a company specializing in data warehousing and clinical intelligence software and launched Recombinant by Deloitte 34 In February 2013 Recombinant by Deloitte merged with an internal informatics unit Deloitte Health Informatics and launched ConvergeHEALTH by Deloitte 35 On 11 January 2013 Deloitte purchased substantially all of the business of Monitor Group 10 the strategy consulting firm founded by Harvard Business School professor Michael Porter after Monitor filed for bankruptcy protection 36 In 2014 the company introduced Rubix a blockchain consultancy providing advisory services for clients in different business sectors including government In 2016 the company created its first blockchain lab in Dublin A second hub was launched in New York in January 2017 In 2016 Deloitte Canada set up a Bitcoin automatic teller machine and equipped a restaurant in its office complex to accept bitcoin as payment Deloitte CIS partnered with Waves Platform to offering services related to initial coin offerings Deloitte became a member of the Ethereum Enterprise Alliance and the Hyperledger Project sponsored by the Linux Foundation in May 2017 37 In 2016 Deloitte acquired advertising agency Heat of San Francisco best known for its work Madden NFL from EA Sports and the Hotwire travel website Heat was the 11th digital marketing agency purchased by Deloitte Digital since its founding in 2012 As of 2016 Deloitte Digital had 7 000 employees It billed 2 1 billion in 2015 making it one of world s largest digital agencies 38 39 In September 2016 Apple Inc announced a partnership with Deloitte aimed at boosting sales of its phones and other mobile devices to businesses As part of the partnership the two companies will launch a service called Enterprise Next in which more than 5 000 Deloitte consultants will advise clients on how to make better use of Apple products and services 40 41 42 In October 2016 Deloitte announced that they were creating Deloitte North West Europe The Belgian Danish Dutch Finnish Icelandic Norwegian and Swedish member firms will combine with the UK and Swiss member firms to create Deloitte North West Europe Deloitte over the next three years would invest 200m to enhance its services to its global national and private market clients and to create development opportunities The firm came into effect on 1 June 2017 and it is estimated to have 28 000 partners and people generating over 5bn in annual revenue Deloitte North West Europe accounts for approximately 20 of all revenue within their Global Network 43 In March 2022 Deloitte announced that as a result of the Russo Ukrainian War the firm would no longer carry out business in Russia or Belarus and would separate its practices within these countries from its global network of firms 44 45 In March 2022 Deloitte acquired Etain a data and digital transformation specialist company based in Northern Ireland 46 The Wall Street Journal reported in June 2022 that the firm might choose to divide itself into two new companies one accounting firm and one advisory firm 47 The Wall Street Journal reported this potential change several weeks after reporting that Ernst amp Young was considering a similar split 47 48 Name and branding Edit Deloitte logo short form In 1989 Deloitte Haskins amp Sells merged in most countries with Touche Ross forming Deloitte amp Touche However in the United Kingdom the local firm of Deloitte Haskins amp Sells merged instead with Coopers amp Lybrand later renamed PwC 49 While the full name of the UK private company is Deloitte Touche Tohmatsu Limited 1 in 1989 it initially branded itself as DTT International In 2003 the rebranding campaign was commissioned by William G Parrett the then CEO of DTT and led by Jerry Leamon the global Clients and Markets leader 50 According to the company website Deloitte now refers to the brand under which independent firms throughout the world collaborate to provide audit consulting financial advisory risk management and tax services to selected clients 51 In 2008 Deloitte adopted its new Always One Step Ahead AOSA brand positioning platform to support the existing Deloitte vision To be the Standard of Excellence AOSA represents the global organization s value proposition and is never used as a tagline The recent launch of the Green Dot ad campaign also aligns with Deloitte s brand strategy and positioning framework 52 In June 2016 Deloitte changed its branding and adopted a new logo with Deloitte written in black color instead of the earlier blue 53 In India Deloitte operates under several brand names including A F Ferguson amp Co A F Ferguson Associates S B Billimoria C C Choksi amp Co P C Hansotia Fraser amp Ross and Deloitte Haskins amp Sells India 54 Legal structure EditFor many years the organization and its network of member firms were legally organized as a Swiss Verein the equivalent of an unincorporated association As of 31 July 2010 members of the Verein became part of Deloitte Touche Tohmatsu Limited DTTL a UK private company limited by guarantee without share capital 1 Each member firm in its global network remains a separate and independent legal entity subject to the laws and professional regulations of the particular country or countries in which it operates 11 30 Rockefeller Plaza This structure is similar to other professional services networks which seek to limit vicarious liability for acts of other members As separate and legal entities DTTL and its member firms cannot obligate each other Professional services continue to be provided by member firms only and not DTTL With this structure the members should not be liable for the negligence of other independent members This structure also allows them to be members of the IFAC Forum of Firms 55 In 2019 the UK partners in the firm received average pay of 882 000 56 Services Edit Deloitte office building in Milan Deloitte member firms offer services in the following functions with country specific variations on their legal implementation i e all operating within a single company or through separate legal entities operating as subsidiaries of an umbrella legal entity for the country 57 Audit Edit Audit provides the organization s traditional accounting and audit services as well as internal auditing IT control assurance and Media amp Advertising Assurance 58 Investors in Guangdong Kelon Electrical Holdings Company Limited have claimed that there was a failure to alert them to the company s poor financial position 59 Deloitte claims it did a good job on the project Deloitte s global CEO defended the firm s work on the Kelon matter The firm was the auditor for thirty months from 2002 to 2004 It qualified its opinion in 2004 as to company sales returns and allowances The firm resigned from the Kelon account after completing the 2004 audit Deloitte said it resigned from the account because management at the client was not committed to best practices in finance 60 Consulting Edit Consulting assists clients by providing services in the offering areas of Strategy Analytics and M amp A Customer and Marketing Core Business Operations Human Capital and Enterprise Technology and Performance Consulting is Deloitte s largest business bringing over 40 of total revenues in 2021 4 In An American Sickness 2017 Dr Elisabeth Rosenthal attributed to Deloitte a key role in counseling the adoption of strategic billing as a way of increasing revenues from hospital business She dates this development from 2005 when Deloitte hired Tommy Thompson former secretary of health and human services as chairman of its global healthcare practice 61 In 2011 Deloitte was ranked No 1 by revenue in all areas of healthcare consulting life sciences payer provider and government health 62 The firm implemented the SAP HR system for the Los Angeles Unified School District LAUSD for 95 million and because of faults in the system some teachers were underpaid overpaid or not paid at all 63 64 As of 31 December 2007 LAUSD had incurred a total of 140 million in payments to Deloitte to get the system working properly 65 In 2008 there was some evidence that the payroll issues had started to stabilize with errors below 1 according to LAUSD s chief operating officer 66 The firm worked on a statewide case management system for the California Judicial Council which originally had a budget of around 260 million Almost 500 million had been spent and costs were at one time projected to potentially run as high as 2 billion No single court became fully operational 67 California s Judicial Council terminated the project in 2012 citing actual deployment costs associated with the project and California s budget concerns 68 Financial advisory Edit Financial advisory provides corporate finance services to clients including dispute personal and commercial bankruptcy forensics e discovery document review advisory mergers amp acquisitions capital projects consulting and valuation services 69 Risk advisory Edit Risk advisory provides offerings in enterprise risk management information security and privacy data quality and integrity strategic amp reputation risk regulatory risk project risk and cyber risk and business continuity management and sustainability 70 Deloitte also offers authentication of valuable items Since 2001 Major League Baseball has contracted them to authenticate signed baseball memorabilia to prevent fraud 71 Tax and legal Edit Tax and legal helps clients increase their net asset value undertake the transfer pricing and international tax activities of multinational companies minimize their tax liabilities implement tax computer systems and provides advisory of tax implications of various business decisions 72 In November 2013 the international development charity ActionAid accused Deloitte of advising large businesses on how they could use Mauritius to avoid potentially hundreds of millions of dollars of tax in some of the poorest countries in Africa Deloitte responded by saying that in the absence of the double taxation treaties they advise their clients to avail themselves of arrangements that could result in less taxes being paid to the countries in question Deloitte also said it was wrong to say it is tax avoidance to make use of provisions in double tax treaties and that without such treaties investment might be reduced 73 GovLab Edit GovLab is the internal think tank of Deloitte Consulting LLP s Federal Government consulting practice focused on innovation and government reform Created in 2010 GovLab is based at New York University in New York New York 74 and typically undertakes eight or nine research topics per year focusing on how future trends technologies and business models will affect government 75 Offices EditDeloitte operates across the world in more than 700 locations 76 77 Operations in India Edit In the late 1990s Deloitte commenced operations in India at the same time as another large auditing firm KPMG In India ICAI regulations do not permit foreign firms to carry out audits in India 78 Hence Deloitte carries out audits in India under the name of C C Chokshi amp Co an existing auditing firm that it arranged an agreement with in 1998 79 In 1992 after India was forced to liberalise under one of the conditions of the world bank and IMF sponsored bail out Deloitte was granted a license to operate in India In 2004 A F Ferguson amp Co which has been in India for 110 years joined Deloitte following CC Chokshi amp Company Fraser amp Ross PC Hansotia amp Company and SB Billimoria amp Company 80 In India Deloitte has two entities Deloitte India and Deloitte US India USI which is a region within the Deloitte US organization Deloitte India caters to clients within India while Deloitte USI is an entity of Deloitte US that is geographically located in India and caters to clients of the US member firm 81 Awards and recognition EditIn 2019 Fortune magazine ranked Deloitte as one of the 100 Best Companies to Work For 82 and Bloomberg Business has consistently named Deloitte as the best place to launch a career 83 Deloitte along with KPMG PwC and PA Consulting Group were recognized among the UK s best companies to work for in 2017 84 Deloitte was named the 1 accounting firm for the tenth year in a row by Inside Public Accounting in August 2018 85 Deloitte s tax services have been globally recognized by ITR with the firm notably winning three consecutive best transfer pricing awards in the Americas 86 In 2017 Deloitte was ranked as one of the ten best places to work for paternity leave by Fatherly an online resource for parenting news 87 In 2018 the research firm Gartner stated that Deloitte has been consistently ranked No 1 globally in Security Consulting Services based on revenue for the past 5 6 years 88 In 2019 2020 and 2021 Gartner stated that Deloitte was the No 1 consulting service provider worldwide by revenue 89 90 91 Litigation and regulatory action EditAdelphia Communications Edit The Securities and Exchange Commission announced on 26 April 2005 that Deloitte had agreed to pay 50 million to settle charges relating to Adelphia s 2000 financial statements 92 93 The settlement was later reported to be as high as 210m or 167 5m 94 95 Canadian Bar Association Edit In September 2003 Deloitte reported to the Canadian Bar Association CBA that motor vehicle accident insurance claims for bodily injury had been declining since 1999 adjusted for inflation This contradicted the government s and industry s argument that general damages for soft tissue injury had to be capped at 4 000 Within hours of release a member of Deloitte was communicating with Insurance Bureau of Canada without the knowledge of CBA their client and providing confidential information The Institute of Chartered Accountants of Alberta found Deloitte guilty of unprofessional conduct and fined the firm 40 000 96 Livent Edit In proceedings arising from the insolvency of the former entertainment company Livent in April 2014 its special receiver obtained judgment against Deloitte for 84 750 000 in the Ontario Superior Court of Justice in relation to Deloitte s failure to exercise its duty of care with respect to the audit of Livent s financial statements during 1993 1998 97 The ruling was upheld by the Ontario Court of Appeal in January 2016 98 99 100 but in December 2017 the Supreme Court of Canada in Deloitte amp Touche v Livent Inc Receiver of allowed an appeal in part declaring that liability existed only in respect of Deloitte s negligence in conducting the audit for Livent s 1997 fiscal year and accordingly reduced the amount of damages awarded to 40 425 000 101 Standard Chartered Edit In August 2012 Deloitte Financial Advisory Services DFAS publicly denied that as the official internal auditors for Standard Chartered it helped the bank cover up money laundering operations related to Iran which were earning the bank significant profits by intentionally omitting critical information 102 DFAS paid the state of New York a 10 million settlement was required not to take on new business for one year from designated New York banks and was required to implement reforms in order to prevent similar problems in the future The state regulator stated that there was no evidence DFAS intentionally helped Standard Chartered launder money 103 Netherlands regulator fine Edit During 2016 the Netherlands Authority for the Financial Markets AFM imposed an administrative fine of 1 81 million 2 million on Deloitte s Dutch affiliate Deloitte Accountants B V because it failed to comply with its duty of care in inspection audits 104 Banro Corporation audit independence fine Edit The Public Company Accounting Oversight Board fined Deloitte Canada 350 000 for failing to maintain its independence during three consecutive audits of a Canadian gold mining company Banro Corporation 105 Serco Geografix Ltd Edit On 4 July 2019 the Financial Reporting Council FRC fined Deloitte for its failure to properly audit the accounts of a Serco Group s subsidiary Serco Geografix in 2011 and 2012 The United Kingdom s watchdog fined Deloitte with a 4 2 million and additional 300 000 towards the costs of the investigation 106 107 Deloitte s audit engagement partner Helen George was also fined 97 500 FRC stated that the two parties have been sanctioned for their failure to act in accordance with the fundamental principle of professional competence and due care 108 Autonomy Edit Following Autonomy s 2011 sale to Hewlett Packard the British software company was accused of accounting improprieties that contributed to an 8 8 billion write down of Autonomy s value In May 2018 the UK Based Financial Reporting Council launched disciplinary action against Deloitte Autonomy s auditor at the time of the sale Deloitte Partners who led the audit were accused of failing to correct false and misleading information filed with the FRRP and otherwise failing to act with objectivity during the course of the audit The FRC s action followed legal proceedings in the US that found former Autonomy executive Sushovan Hussain guilty of fraud earlier that month 17 During 2020 Deloitte was fined a record 15 million and two of its former partners involved in the audits Richard Knights and Nigel Mercer were also fined and sanctioned by the UK accounting watchdog the Financial Reporting Council FRC 109 Bandar Malaysia Sdn Bhd Edit During 2019 the Malaysian regulator Securities Commission Malaysia SC reprimanded and imposed penalties of RM2 2 million 0 5 million on Deloitte s Malaysian affiliate relating to the Islamic Finance RM2 4 billion 0 6 billion Sukuk Murabahah Programme 110 Johnston Press audit Edit During 2020 the UK accounting regulator Financial Reporting Council FRC fined Deloitte s UK affiliate 362 500 and reprimanded both the firm and an unnamed audit partner over failures in its audit work for Johnston Press 111 Rhode Island Benefits system Edit During 2020 Deloitte s US consulting arm agreed to pay the State of Rhode Island and the US Federal Government 50 million as a settlement relating to its design of a troubled computer system for its state benefits programs 112 Quality control failures in Canada Edit During 2021 the US Public Company Accounting Oversight Board PCAOB fined Deloitte s Canadian affiliate 350 000 as a civil penalty for failure to institute reasonable assurance quality controls 113 1MDB scandal Edit During 2021 Deloitte s Malaysia affiliate agreed to pay the Malaysia government 80 million to resolve all claims related to its auditing of accounts of scandal linked state fund 1MDB and its unit SRC International from 2011 to 2014 Malaysian and U S authorities say at least 4 5 billion was stolen from 1MDB between 2009 and 2014 by high level officials of the fund and their associates 114 Mitie plc Edit In April 2022 Deloitte s UK affiliate was fined 2 million by the UK accounting regulator Financial Reporting Council over 2016 audit of British outsourcing firm Mitie plc 115 Deloitte Hua Yong Edit The Securities and Exchange Commission announced on 29 September 2022 that Shanghai based Deloitte Touche Tohmatsu Certified Public Accountants LLP Deloitte China had agreed to pay 20 million to settle charges relating to failures in complying with requirements for auditing US companies in China and Chinese companies in the US 116 Deloitte China also known as Deloitte Hua Yong self reported the deficiencies found in 12 fiscal year 2018 audits 117 Auditors asked clients to prepare their own paperwork to show that Deloitte China had completed audits in at least 21 instances creating the illusion that it followed relevant requirements when there was no evidence of it doing so 118 For nine clients with operations in China Deloitte s US office also outsourced its audit work to Deloitte China 119 SIG plc Edit In December 2022 Deloitte s UK affiliate was fined 0 9 million approximately US 1 1 million by Financial Reporting Council FRC The fine came as a result of the company failing to obtain and supply enough audit evidence testing rebate terms and debtor balances in connection with the 2015 16 audit of the British subsidiary of Swiss building materials firm SIG plc 120 Controversies EditAustralian tobacco industry Edit In 2011 Deloitte was commissioned by the tobacco industry to compile a report on illicit tobacco The Australian Customs and Border Protection Service officials called the report potentially misleading and raised concerns about the reliability and accuracy of the data 14 When a second Deloitte report focusing on counterfeit cigarettes was released Home Affairs Minister Brendan O Connor described the second report as baseless and deceptive and bogus 121 Public health officials criticised Deloitte s decision to conduct the research as it added credibility to the tobacco industry s effort to undermine the Australian Government s plain cigarette packaging legislation 122 123 COVID 19 vaccine website and patent infringement Edit Deloitte was awarded a 44 million no bid contract by the Centers for Disease Control and Prevention CDC in the United States to build a website to manage scheduling inventory and reporting for COVID 19 vaccination 124 However the website functioned poorly leading very few states to adopt it for their vaccination management 125 124 In August 2020 a patent attorney for Tiffany Tate the executive director of the Multi State Partnership for Prevention MSPP issued a cease and desist letter accusing Deloitte and the CDC of stealing Tate s intellectual property for a mass vaccination tracker for use in tracking vaccinations for COVID 19 Tate earlier had demonstrated software to the CDC that would help automate key aspects of delivering mass vaccinations Deloitte was present during that presentation and was identified by the CDC as a consultant Eventually Deloitte received the technical specifications of the software At the time that Tate demonstrated the software the CDC indicated that it did not have a workflow for handling vaccine distribution Less than one week later the CDC announced its intention to build tracking software Under the Trump administration the CDC awarded a no bid contract to Deloitte to build a vaccine administration management system even though MSPP had offered such a system at a lower price Later the CDC awarded a second contract to Deloitte with both contracts totaling US 43 9 million Tate s attorney said that Deloitte s system has the identical structure mirrors the functionality and duplicates the same features as MSPP s system The attorney also commented that Deloitte tried to hire Ms Tate to work on the project 126 127 E mail hack Edit In September 2017 The Guardian reported that Deloitte suffered a cyberattack that breached the confidentiality of its clients and 244 000 staff allowing the attackers to access usernames passwords IP addresses architectural diagrams for businesses and health information Reportedly Deloitte had stored the affected data in Microsoft s Azure cloud hosting service without two step verification The attackers were thought to possibly have had access from as early as October 2016 15 Brian Krebs reported that the breach affected all of Deloitte s email and administrative user accounts 128 129 A later report by The Wall Street Journal repeated Deloitte s statement that only a few clients were affected Deloitte said that neither its services nor its clients businesses were disrupted Deloitte reportedly first noticed suspicious activity in April 2017 Deloitte said that no sensitive information was compromised and that its investigators were eventually able to read every email obtained by the hackers 130 In October 2017 The Guardian reported that client accounts compromised in the breach included but were not limited to the US Department of Defense the US Department of Homeland Security the US State Department the US Department of Energy mortgage companies Fannie Mae and Freddie Mac the National Institutes of Health NIH and the US Postal Service 131 Fannie Mae and Freddie Mac issued statements saying they were not affected by the attack and denied that any of their data was compromised 132 Deloitte said that it immediately contacted legal authorities and six clients Deloitte also increased security measures on the advice of both internal and external experts 133 As of October 2017 the New York attorney general s office was investigating the hack 130 Carillion Edit Deloitte had acted as internal auditor at construction and services giant Carillion before it went into liquidation in January 2018 The excoriating and damning The Guardian 134 final report of the Parliamentary inquiry into Carillion s collapse was published on 16 May 2018 and criticised Deloitte for its involvement in the company s financial reporting practices Deloitte were responsible for advising Carillion s board on risk management and financial controls failings in the business that proved terminal Deloitte were either unable to identify effectively to the board the risks associated with their business practices unwilling to do so or too readily ignored them 16 The select committee chairs Frank Field and Rachel Reeves called for a complete overhaul of Britain s corporate governance regime accusing the big four accounting firms of operating as a cosy club 134 Deloitte said it was disappointed with the committees conclusions regarding its role as internal auditors but would take on board any lessons that could be learned from Carillion s collapse 134 State unemployment portals Edit Deloitte Consulting has been heavily involved in building unemployment insurance web portals across various states including Ohio Colorado and Illinois In May 2020 following a wave of applications resulting from the COVID 19 pandemic it was revealed that major security weaknesses existed in the web portals of these states Personal information of unemployed applicants including addresses and social security numbers were exposed and viewable by the public Following the revelation proposed class actions were filed against the company 135 The controversy follows similar short fallings in Florida s unemployment portal The CONNECT site designed by Deloitte was described as a colossal failure as it was created over budget delivered late and did not work Again individuals laid off during the COVID pandemic were particularly vulnerable as they were out of jobs and unable to receive unemployment assistance In May 2020 an investigation was ordered by Florida Governor Ron DeSantis 136 Sponsorships EditDeloitte LLP serves as the official professional services sponsor of the United States Olympic Committee since 2009 137 The UK member firm of Deloitte was a sponsor of the 2012 Summer Olympics 13 and the Royal Opera House 138 The Canadian member firm was also the official professional services supplier for the 2010 Vancouver Winter Olympic Games 139 and 2010 Winter Paralympic Games 140 In Asia the Singapore member firm of Deloitte was a sponsor of the 2010 Summer Youth Olympics 141 The Australian member firm of Deloitte is a Founding Partner of Invictus Games Sydney 2018 and a Principal from the firms Consulting practice is CEO of the not for profit entity delivering the Games 142 143 Moreover Deloitte sponsors many university sports teams and societies such as Edinburgh University Hockey Club 144 It also entered into a 3 year partnership with the Cambridge Union Society in November 2013 145 See also Edit New York City portal Companies portalAccounting networks and associations Big Four accounting firms Deloitte Fast 500 Deloitte Football Money League Deloitte Real Estate Financial audit Sarbanes Oxley Act Tax advisor Venmyn RandReferences Edit a b c Deloitte Touche Tohmatsu Limited Companies House Retrieved 23 July 2020 Deloitte Global announces new Board Chair Deloitte Retrieved 29 October 2019 Joseph B Ucuzoglu Deloitte Retrieved 6 January 2023 a b c O Dwyer Michael Foley Stephen 8 September 2022 Deloitte revenues hit record on back of tech consulting boom The Financial Times Ltd Archived from the original on 10 December 2022 Retrieved 21 September 2022 a b Global Revenue Announcement Deloitte 8 September 2022 Retrieved 26 October 2022 Deloitte overtakes PwC as world s biggest accountant The Telegraph Archived from the original on 11 January 2022 Retrieved 15 April 2017 Deloitte Touche Tohmatsu Limited Companies House Retrieved 15 October 2018 a b c d e f g h i j k l m About Deloitte Deloitte Retrieved 2 October 2014 a b Suzanne Kapner 11 April 2002 ENRON S MANY STRANDS THE ACCOUNTANTS British Unit of Andersen Is Defecting to Deloitte The New York Times Retrieved 24 February 2010 a b Deloitte Completes Acquisition of Monitor s Global Strategy Consulting Business 11 January 2013 Retrieved 2 October 2014 a b Andrew Clark 20 September 2010 Deloitte Touche Tohmatsu quits Swiss system to make UK its new legal home The Guardian Retrieved 20 September 2010 America s largest private companies Forbes Retrieved 25 January 2021 a b Deloitte becomes first London 2012 tier two sponsor Brand Republic Retrieved 9 November 2017 a b Australian Customs and Border Protection response to Media Watch ABC 10 June 2011 a b Hopkins Nick 25 September 2017 Deloitte hit by cyber attack revealing clients secret emails The Guardian Retrieved 10 October 2017 a b Carillion Second Joint report from the Business Energy and Industrial Strategy and Work and Pensions Committees of Session 2017 19 PDF London House of Commons 2018 p 91 Retrieved 16 May 2018 a b Fildes Nic 31 May 2018 UK watchdog acts against Deloitte over Autonomy accounts Financial Times Archived from the original on 10 December 2022 Retrieved 3 April 2019 Deloitte amp Co Oxford University Press 1959 Elijah Watt Sells Archived 4 July 2016 at the Wayback Machine The Accounting Hall of Fame Fisher College of Business Retrieved 7 August 2013 A Simplified Family Tree for the Firm of Deloitte Haskins amp Sells Icaew com Retrieved 6 April 2017 a b Deloitte Touche merger done The New York Times Spicer amp Oppenheim ICAEW com Deloitte Consulting Page 6 PDF Wellesley edu Archived from the original PDF on 9 April 2011 Retrieved 10 October 2017 Deloitte buys Eclipse ARN 16 February 2000 Canadian Unit to Join Deloitte The New York Times 13 April 2002 Retrieved 24 February 2010 Ineum Consulting Oracle com August 2008 Bennett James 7 April 2005 Deloitte expands in China 7 Apr 2005 AccountancyAge com Retrieved 17 April 2017 Javers Eamon 19 December 2016 Accountants and spies The secret history of Deloitte s espionage practice CNBC Retrieved 20 December 2016 BearingPoint to sell business units to Deloitte PwC Washington Business Journal 24 March 2009 Deloitte acquires Drivers Jonas Financial Times 21 January 2010 Deloitte Expands Sustainability Offerings Acquires ClearCarbon DOMANI Archived 13 May 2016 at the Wayback Machine Environmental Leader 13 December 2010 Deloitte Acquires Ubermind Establishes Lead in the Mobile Revolution Prnewswire com 4 January 2012 Confirmed Deloitte buys Ubermind looking to play a bigger role in mobile apps GeekWire 4 January 2012 Retrieved 2 October 2014 Deloitte Buys Recombinant to Expand Healthcare Analytics Mojo InformationWeek 6 November 2012 Deloitte announces the launch of ConvergeHEALTH Deloitte com 20 February 2013 Monitor Company Group LP Files for Bankruptcy in Delaware Bloomberg BusinessWeek Retrieved 2 October 2014 Big 4 Accounting Firms Are Experimenting With Blockchain And Bitcoin NASDAQ 5 July 2017 Retrieved 9 July 2017 Need to Know Advertising Age 7 March 2016 p 4 Vranica Suzanne 29 February 2016 Deloitte Digital Buys Creative Agency Heat The Wall Street Journal Retrieved 21 December 2017 Apple and Deloitte partner on Enterprise Next service CNET Retrieved 5 November 2016 Apple and Deloitte team up to accelerate business transformation on iPhone and iPad Apple Newsroom Retrieved 5 November 2016 Apple just made a huge deal to push the iPhone into big businesses Business Insider Retrieved 5 November 2016 Deloitte targets accelerated growth with additional 200m investment in the creation of North West Europe firm Deloitte com Retrieved 10 October 2017 Deloitte statement on Ukraine Deloitte com Retrieved 7 March 2022 EY and Deloitte exit Russian operations over Ukraine invasion Financial Times 7 March 2022 Archived from the original on 10 December 2022 Media Insider Deloitte completes landmark acquisition Insider Media Ltd Retrieved 29 March 2022 a b Driebusch Jean Eaglesham and Corrie 8 June 2022 Deloitte Explores Splitting Auditing Consulting Arms Following Ernst amp Young The Wall Street Journal Retrieved 8 June 2022 Maurer Mark Eaglesham Jean 26 May 2022 Accounting Firm EY Considers Split of Audit Advisory Businesses The Wall Street Journal Retrieved 8 June 2022 PWC History and milestones Pwc com Retrieved 10 October 2017 Ernst amp Young launches rebrand plan Accountancy Age 3 October 2007 Retrieved 2 October 2014 virat Deloitte Deloitte Retrieved 2 October 2014 170 000 brand managers step ahead as one Deloitte Perspectives Retrieved 2 October 2014 Deloitte s brand gets a makeover Deloitte Retrieved 15 June 2016 Deloitte and KPMG do not have license to operate in India The Economic Times Retrieved 29 September 2018 IFAC Forum of Firms IFAC Retrieved 2 October 2014 PwC partners set for bumper pay boost despite audit criticism Financial Times 16 September 2019 Archived from the original on 10 December 2022 Retrieved 1 July 2020 Performance By the numbers Deloitte Retrieved 11 July 2021 Audit amp Assurance Deloitte Global services reports and insights Deloitte Retrieved 18 January 2020 Kelon scandal puts Deloitte in legal firing line South China Morning Post April 2006 Retrieved 9 November 2017 Anderlini Jamil 22 April 2006 Deloitte defends good job at Kelon South China Morning Post Retrieved 13 November 2017 Elisabeth Rosenthal An American Sickness How Healthcare Became Big Business and How You Can Take It Back New York Penguin Press 2017 pp 33 35 Kennedy Ranks Deloitte as the Top Global Health Care Consulting Practice High Beam Research newsletter 22 April 2011 Teachers Start Boycott 2995901 shtml LAUSD teachers start boycott Dailytrojan com Retrieved 16 November 2016 permanent dead link Teachers Start Boycott 2995901 shtml LAUSD teachers start boycott slideshare com Retrieved 5 February 2020 Los Angeles school district SAP implementation still broken ZDNet 8 October 2007 Retrieved 2 October 2014 Update LAUSD payroll problems stabilized ZDNet 20 January 2008 Retrieved 2 October 2014 California court officials judges spar over costly computer system Sacbee com Archived from the original on 13 April 2010 Retrieved 10 October 2017 Chris Kanaracus 28 March 2012 California Scraps Massive Courts Software Project PC World Retrieved 2 October 2014 Financial Advisory Deloitte Global financial advisory services reports and insights Deloitte Retrieved 18 January 2020 Risk Advisory Deloitte Global Risk Advisory Deloitte Retrieved 18 January 2020 Boston com Business MLB wants to make sure fans get the real deal archive boston com Retrieved 4 January 2023 Tax and legal Deloitte Retrieved 11 July 2021 Doward Jamie 3 November 2013 Deloitte promotes Mauritius as tax haven to avoid big payouts to poor African nations The Guardian Retrieved 9 November 2017 About us The GovLab Retrieved 4 June 2020 How The U S Government Can Accelerate The Impact Economy Forbes 27 June 2013 Retrieved 9 March 2018 Worldwide locations directory www2 deloitte com Deloitte global website Retrieved 1 October 2018 Deloitte headquarters and office locations Craft co Retrieved 11 March 2022 Deloitte KPMG have no licence to do audit work in India The Economic Times 16 January 2009 Retrieved 29 September 2018 Mistry Sharad 19 March 1998 Deloitte Touche Tohmatsu formalises tie up with CC Chokshi The Indian Express Archived from the original on 15 September 2018 Retrieved 29 September 2018 Its Official Ferguson To Merge With Deloitte The Financial Express 17 August 2004 Retrieved 7 November 2019 About Deloitte Deloitte United States Retrieved 23 May 2020 Fortune Magazine 2019 100 Best Companies to Work For Fortune Lindsey Gerdes 3 September 2009 The Best Places to Launch a Career Bloomberg Business PwC Deloitte KPMG and PA among top 25 UK companies to work for Consultancy uk 30 May 2017 Retrieved 30 May 2017 The 2018 INSIDE Public Accounting Top 100 Firms PDF Inside Public Accounting August 2017 Retrieved 22 August 2017 Shasiharan Prin 24 September 2020 Americas Tax Awards 2020 The winners ITR Retrieved 10 November 2020 Peter Jones 7 August 2017 The 10 best places for dads to work in 2017 USA Today Retrieved 13 September 2017 GmbH finanzen net Deloitte Ranked No 1 in Security Consulting Services Worldwide for Sixth Consecutive Year by Gartner Markets Insider Business Insider Retrieved 18 July 2020 The FINANCIAL Deloitte ranked No 1 consulting service provider worldwide by Gartner www finchannel com 11 July 2019 Retrieved 6 January 2021 Deloitte Ranked No 1 Consulting Service Provider Worldwide By Revenue According To Gartner Brand Spur 28 May 2020 Retrieved 6 January 2021 Deloitte ranked No 1 consulting service provider worldwide by revenue according to Gartner Market Share report Deloitte Retrieved 4 November 2022 MLS Canada Canadian Real Estate Property Listing Financegates com Archived from the original on 21 May 2013 Retrieved 9 November 2017 SEC Charges Deloitte amp Touche for Adelphia Audit Sec gov Retrieved 9 November 2017 Deloitte and Banks to Pay 455 Million to Adelphia Investors The New York Times 9 December 2006 Retrieved 9 November 2017 Johnson Sarah 6 August 2007 Deloitte to Pay 167 5M in Adelphia Case 2 cfo com Retrieved 9 November 2017 Accountant penalized for info leak Canada com 13 January 2008 Archived from the original on 14 February 2012 Retrieved 15 May 2018 Drew Hasselback 6 April 2014 Livent auditor Deloitte ordered to pay 84 8 million for failing detect fraud Financial Post discussing Livent Inc v Deloitte amp Touche LLP 2014 ONSC 2176 4 April 2014 Perkel Colin 8 January 2016 Court upholds 118 million award against negligent Livent auditor Deloitte Financial Post discussing Livent Inc v Deloitte amp Touche 2016 ONCA 11 8 January 2016 Joseph Patricia 19 January 2016 Livent v Deloitte Has The Fat Lady Finally Sung thecourt ca Osgoode Hall Law School Archived from the original on 25 January 2016 Buckstein Jeff March 2016 Livent ruling seen as game changer for auditing duties The Bottom Line Archived from the original on 6 March 2016 Deloitte amp Touche v Livent Inc Receiver of 2017 SCC 63 20 December 2017 Standard Chartered Deloitte rejects US claims The Daily Telegraph 7 August 2012 Freifeld Karen 18 June 2013 Deloitte to pay NY 10 million for misconduct over Standard Chartered Reuters Retrieved 5 December 2017 AFM imposes an administrative fine on Deloitte for failure to comply with its duty of care Netherlands Authority for the Financial Markets 24 March 2016 Archived from the original on 26 June 2017 Retrieved 28 January 2022 Cohn Michael 16 October 2018 Deloitte Canada fined 350 000 for independence problems Accounting Today Retrieved 28 January 2022 Watchdog imposes 5 8 million fines on Deloitte partner for audit failures Reuters Retrieved 3 July 2019 Deloitte fined 6 5m over Serco audit misconduct Financial Times Archived from the original on 10 December 2022 Retrieved 3 July 2019 Deloitte fined 4 2m over Serco tagging scandal The Guardian Retrieved 4 July 2019 Partridge Joanna 15 September 2020 Deloitte fined record 15m for failings in Autonomy audits The Guardian Retrieved 28 January 2022 SC REPRIMANDS AND FINES DELOITTE RM2 2 MILLION Securities Commission Malaysia 30 January 2019 Archived from the original on 1 March 2021 Retrieved 28 January 2022 Kinder Tabby 6 November 2020 Deloitte fined over failures in Johnston Press audit The Financial Times Archived from the original on 10 December 2022 Retrieved 28 January 2022 State gets 30M in Deloitte settlement Rhode Island Lawyer s Weekly 20 February 2020 Retrieved 28 January 2022 Jaeger Jacyln 1 October 2021 CAOB fines Deloitte Canada 350K for quality control failures Compliance Week Retrieved 28 January 2022 Deloitte to pay Malaysia 80 million to settle claims linked to 1MDB Reuters 3 March 2021 Retrieved 28 January 2022 Ridley Kirstin 22 April 2022 Deloitte partner fined and sanctioned over Mitie audit Reuters Retrieved 3 February 2023 Deloitte s Chinese Affiliate to Pay 20 Million Penalty for Asking Audit Clients to Conduct Their Own Audit Work Sec gov Retrieved 2 October 2022 Deloitte Hua Yong Settlement with the U S SEC Firm Statement Sec gov Retrieved 2 October 2022 Palma Stefania Foley Stephen 30 September 2022 SEC Fines Deloitte China for Audit Failures Thomson Reuters Tax amp Accounting Retrieved 2 October 2022 Ho Soyoung 29 September 2022 Deloitte China allowed clients to do own audit work finds SEC Financial Times Archived from the original on 10 December 2022 Retrieved 2 October 2022 Deloitte fined 900 000 by watchdog over SIG audit failures theguardian com 22 December 2022 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link Joe Hildebrand News com au 12 July 2011 Professor Simon Chapman Archived 9 August 2011 at the Wayback Machine ABC Online 6 July 2011 Professor Owen Carter The Sydney Morning Herald 22 March 2012 a b Stolberg Sheryl Gay 6 February 2021 A no bid contract to track vaccinations leads to frustration and a cease and desist letter The New York Times ISSN 0362 4331 Retrieved 7 February 2021 What went wrong with America s 44 million vaccine data system MIT Technology Review Retrieved 30 January 2021 Stolberg Sheryl Gay 6 February 2021 Immunization Expert Accuses C D C and Deloitte of Stealing Her Idea The New York Times Cease and desist letter Source Deloitte Breach Affected All Company Email Admin Accounts Krebs on Security krebsonsecurity com Retrieved 10 October 2017 Security News This Week The Deloitte Breach Was Worse Than We Thought Wired Retrieved 9 November 2017 a b Rapoport Michael 13 October 2017 New York Investigates Deloitte Cyberbreach The Wall Street Journal Hopkins Nick 10 October 2017 Deloitte hack hit server containing emails from across US government The Guardian Retrieved 10 October 2017 Berry Kate 10 October 2017 Fannie Freddie not affected by Deloitte breach GSEs say American Banker Retrieved 6 December 2017 Sandle Paul Finkle Jim Deloitte hacked says very few clients affected Reuters No 25 September 2017 Retrieved 6 December 2017 a b c Davies Rob 16 May 2018 Recklessness hubris and greed Carillion slammed by MPs The Guardian Retrieved 16 May 2018 Deloitte Sued Over Pandemic Unemployment Website Data Breaches news bloomberglaw com Retrieved 22 June 2020 Report Company behind flawed unemployment website says Florida got what it asked for wtsp com 10 May 2020 Retrieved 22 June 2020 Deloitte renews sponsorship of U S Olympic and Paralympic Teams United States Olympic Committee Retrieved 27 October 2015 Deloitte Ignite Deloitte com Retrieved 10 October 2017 Vancouver 2010 Winter Olympics results amp video highlights Vancouver2010 com 13 October 2016 Archived from the original on 13 October 2009 Retrieved 16 November 2016 Vancouver 2010 Winter Olympics results amp video highlights Vancouver2010 com 13 October 2016 Archived from the original on 27 September 2008 Retrieved 16 November 2016 Deloitte was official partner of inaugural YOG in 2010 Agri biz com Archived from the original on 6 October 2014 Retrieved 2 October 2014 Invictus Games Sydney 2018 Corporate Partners Invictus Games Sydney 2018 10 July 2018 Archived from the original on 10 July 2018 Deloitte Deloitte 10 July 2018 Retrieved 10 July 2018 Deloitte Official Sponsor of EUMHC Euhc co uk Archived from the original on 14 August 2012 Retrieved 2 October 2014 Martha Elwell 14 November 2013 The Union by Deloitte Varsity Online Retrieved 2 October 2014 Further reading EditFoye Arthur Bevins 1970 Haskins amp Sells Our first seventy five years PDF Haskins and Sells Publications Richards Archibald C Touche Ross amp Co 1899 1981 London 1981External links Edit Wikimedia Commons has media related to Deloitte Official website Retrieved from https en wikipedia org w index php title Deloitte amp oldid 1137683524, wikipedia, wiki, book, books, library,

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