ipl-logo

Taking A Look At Deloitte

775 Words4 Pages

Deloitte is one of the big four accounting firms and provides their professional services to clients all over the world. They operate through their subsidiaries, which consists of business types: Deloitte & Touché LLP, Deloitte Consulting LLP, Deloitte Financial Advisory and, Deloitte Tax LLP. Deloitte provides services all over the world, including audit, advisory, consulting, tax and enterprise risk services. Deloitte has 108 offices in 91 cities around the world. In 2015, Deloitte employed over 225,000 people.
There are several major competitors that Deloitte faces in their industry. Their closest competition consists of the three big accounting firms, PriceWaterhouseCoopers, KPMG, and Ernst & Young. These firms provide the same services as Deloitte. According to Deloitte’s website “Revenues for fiscal year 2015 were US$35.2 billion.” (Deloitte, 2016). Their revenue has steadily increased over the last 10 years and they have expanded to over 150 countries .Deloitte provides services to many different markets including: automotive, banking, oil and gas and many other industries. Their approximate annual growth for 2015 was 8%, which is the highest out of the big four accounting firms (“The Big 4 Accounting Firms”, n.d.). …show more content…

From information presented on a graph on Deloitte’s website, their Audit and enterprise risk services had an 8.2% increase in 2015 alone. All kinds of people rely on audits to provide them with assurance that a business is being honest and complying with laws and regulations. According to an article on the Houston Chronicle website, Reeves (n.d.) states “Auditors authenticate the accuracy of a company's financial transactions and confirm that the company follows generally accepted accounting principles— or GAAP—as administered by the Federal Accounting Standards Advisory Board” (Reeves,

Show More
Related
867 Words | 4 Pages

Accounting and auditing firm The scandal's consequences would primarily be a professional embarrassment for auditing and accounting firms. The American Institute of Certified Public Accountants quickly altered the auditing standards of the accounting profession in the United States, prompting auditors to become more proactive in combating fraud. The shareholders

Read More
789 Words | 4 Pages

A financial audit is an independent, objective evaluation of an organization 's financial reports and financial reporting processes. The primary purpose for financial audits is to give stakeholders reasonable assurance that financial statements are accurate and complete. Most internal audits are not adding value. One reason is that “ongoing compliance burdens and pressure to do more with less” is contributing to the decline in perceived internal audit value.

Read More
1194 Words | 5 Pages

Thus, it is essential to keep these types of stakeholders in consideration (Hobohm, 2004). • Intensity of Competitive Rivalry: The competitive advantage by the help of the new ideas formation such as advertising level, strategies, sales growth ratio, transparency etc are the essential parts that are required to be analysed deeply. This includes the stakeholders such as employees, authority members, bank

Read More
1154 Words | 5 Pages

They currently operate approximately 12,000 retail tax offices worldwide, and their employees are more than 70,000 tax professionals. In New York, they also have many retail tax offices. Financially,

Read More
236 Words | 1 Pages

In the novel night, Elie Wiesel discusses how the Nazi army dehumanizes the Jews. In the beginning, Moishe the Beadle came back and told them that “Infants were tossed into the air and used as targets for the machine guns” (6). The army took those lives of innocent babies, that one day could have been something. They treated the babies like they were clay targets.

Read More
839 Words | 4 Pages

I can simply answer because I want to be a hero. In my opinion, an auditor is a dark knight that saves the world secretly and silently. An auditor has to commit to do his job professionally as well as ethically. As a matter of fact, there have been many corporate and accounting frauds, such as the WorldCom scandal in 2002 and the Madoff Ponzi scheme in 2008,

Read More
570 Words | 3 Pages

On the other hand, financial auditing serves as a crucial business practice which provides solutions to ensure financial activities and information, including financial statements, adhere to professional standards such as GAAP. Interestingly, financial auditors could oversee IT auditors to generate audit reports for internal business purposes. This collaboration between the two teams contributes to enhancing organizational processes and facilitating the achievement of the company's goals and objectives. This newfound knowledge has expanded my understanding as well. Initially, I perceived IT audit and financial audit as parallel disciplines with little collaboration or intersection.

Read More
1823 Words | 8 Pages

Obviously, people look for answers and help in these times of trouble. These problems look like they are not going away anytime soon, so the industry is probably going to keep growing. Recently, the industry has surpassed the $2 billion mark. Mission Statement:

Read More
505 Words | 3 Pages

The last major set of competitors are the CPAs and mom-and-pop shops that are located at

Read More
320 Words | 2 Pages

Deloitte is a worldwide company across 150 different countries and make about $35.2 billion each year. The current CEO of Deloitte LLP IS Cathy Engelbert, who has serve many senior leadership position since 1986. Deloitte offers many kinds of services like audits, consulting, financial advising, risk management, and tax services to clients. Their employees work with more than 20 industries to help reinforce public trust in the market, help clients make challenging business decisions, and to have a stronger economy. In the United States Deloitte LLP is a firm of DLTL.

Read More
616 Words | 3 Pages

Importance and benefits of hiring accounting services They save you time The best advantage of hiring accounting services in the contemporary times is that it gives you more time to focus on your business. Till today you have been managing the accounts of your business as well as the deals and productivity of the business at the same time.

Read More
1770 Words | 8 Pages

Now, like any other company out there in the corporate world, they all come across a point in business where they face a competitive situation, due to either their product line, pricing, or their financial system. According to our

Read More
1079 Words | 5 Pages

They have produced a flood of various regulatory and legislative responses. Along with the Sarbanes-Oxley Act of 2002 and other similar regulations issued by the SEC now the New York Stock Exchange and the NASD both compel corporate CEOs and CFOs to certify the accuracy of financial statements filed with the SEC. This requires listed companies to genuinely adopt corporate governance guidelines or codes of ethics which specifically address the conduct of senior management, directors or officers. It forbids corporations to extend unnecessary credit to their directors or officers and also provides for forfeiture of profits and bonuses from sale of company stock if in case restatements have been made solely as a result of “misconduct” in financial reporting.

Read More
860 Words | 4 Pages

However, the corporate collapse of HIH Insurance in Australia has raised more questions than answers regarding the integrity of the accounting and auditing profession. The audit expectation gap is the difference between the actual performance of an auditor and what society thinks. According to the American Institute of Certified Public Accountants in 1992, the expectation gap is defined as the difference between what the public and financial users think audit responsibility is and what the auditors think their role is(?). The importance of professional scepticism is essential in enhancing the societal view on auditors. An auditor supplies the independence and objectivity to a financial report complementing the high expectations of third party users

Read More
1304 Words | 6 Pages

The increasing level of competition decrease the profitability. Moreover, this tool provides a foundation to formulate strategy and recognize the competitive landscape in the same industry of the company ("Industry Analysis | Porter’s Five Forces | Competition,"

Read More

More about Taking A Look At Deloitte

Related Topics

Open Document