What is Deloittes hiding?
We congratulate Deloitte & Touche on another set of healthy results.
This year, the firm said its annual growth was just under 20 per cent.
John Connolly and his team are almost certainly running a tight and profitable ship.
But there is still the nagging doubt that it could be a ghost ship. Deloittes, along with Andersen and PricewaterhouseCoopers, refuses to publish full audited accounts. Unlike the other two, Deloittes does at least publish fee income results for the UK, but we can only take its word for the accuracy of those.
The partners argue that there is no law requiring disclosure, and so no disclosure is necessary. But that is missing the point. These are three firms that make millions, employ thousands of staff and audit thousands of companies. Partnership law was never designed to service such vast operations – and the firms have no excuses for their secrecy.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article