Deloitte & Touche is 'keeping its options open' about splitting its audit and consultancy divisions following pressure from the US Securities and Exchange Commission.
A senior Deloitte Consulting partner has revealed pressure from the US Securities and Exchange Commission to separate audit and consultancy work was causing the firm?s chiefs ‘to think hard’.
Speaking to AccountancyAge.com at the Deloitte Consulting, ?Maximising The Pay Off Of ERP? conference in Brussels, DC partners also revealed their ‘frustration’ caused by the US regulator.
Senior DC partner, Steve Baldwin said the firm was ‘keeping its options open’ as to whether it will separate its audit and consultancy work.
Baldwin who is based in its Atlanta office, added: ‘The firm may be heading towards a scenario where we might grow business arms such as e-business outside the Deloitte?s umbrella.’
Such a move would follow the example set by Big Five rivals Ernst & Young and PricewaterhouseCoopers.