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Company Snapshot : Deloitte

  • Jun 5th, 2017

About the company

  • Deloitte Touche Tohmatsu Limited
    Deloitte Touche Tohmatsu Limited, also known as Deloitte, is a multinational professional services firm headquartered in New York City in the United States.
  • Deloitte is one of the "Big Four" accounting firms and the largest professional services network in the world by revenue and number of professionals.
  • As of 2016, Deloitte is the 6th-largest privately owned organization in the United States. Even Fortune magazine ranked Deloitte as one of the 100 Best Companies to Work For and Bloomberg Business has consistently named Deloitte as the best place to launch a career.  

Deloitte India Offices- Ahmedabad, Bangalore, Chennai, Delhi |NCR| Gurgaon, Hyderabad, Kolkata, Pune, Mumbai(2)

Deloitte Clients- Boeing, Microsoft, Morgan Stanley, Star Bucks, GlaxoSmithKline, etc..

Key people – David Cruickshank (Global Chairman), Punit Renjen (Global CEO),

                            P.R Ramesh (Chairman, Deloitte India)

Founder- William Welch Deloitte

Services-

  • Audit & Assurance- Here, audit is not about just the numbers, but much more than that. It’s about attesting to accomplishments and challenges and helping to assure company’s strong foundations for future aspirations. Deloitte illuminates the what, how, and why of change so the firm will always be ready to act ahead.
  • Risk and Financial Advisory- Organizations understand that risk is a source of competitive advantage. By managing risk more effectively an organization unleashes its full potential, which helps in creating and protecting value for all of their stakeholders. Deloitte help them to do so.Deloitte provides advisory services around Merger & Acquisitions transactions, restructurings, raising capital, and forensic investigations. It also offers multi-situational capabilities including business modeling, Public Private Partnerships, and infrastructure advisory & valuations.
  • Consulting- At Deloitte consulting services, they try to help and solve clients’ most complex issues from a business and technology point of view, which help the company to lead in the markets where they compete. Consulting also includes delivering innovation, transformation, leadership, strategy and implementation in many ways.
  • Legal- Multinational organizations need legal advisors who can assist with day-to-day activities as well as corporate life events across many jurisdictions. Deloitte Legal practices provide holistic guidance around strategic business decisions, offering cost-effective support for routine legal activities.
  • Tax- Deloitte offers clients a broad range of fully integrated tax services. These services combine insight and innovation from multiple disciplines with business and industry knowledge.

History:

  • In 1845, William Welch Deloitte opened an office in London. Deloitte was the first person to be appointed an independent auditor of a public company, namely the Great Western Railway. He went on to open an office in New York in 1880.
  • In 1896, Charles Waldo Haskins and Elijah Watt Sells formed Haskins & Sells in New York.
  • 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. They both merged because income taxes were soon to generate enormous demand for accounting professionals.
  • In 1968 Nobuzo Tohmatsu formed Tohmatsu Aoki & Co, in Japan which later became part of the Touche Ross network in 1975.
  • In 1952, Deloitte merged his firm (by then known as Deloitte, Plender, Griffiths & Co.) with Haskins & Sells to form Deloitte Haskins & Sells.
  • In 1989, Deloitte Haskins & Sells merged with Touche Ross in the USA to form Deloitte & Touche.

Year of establishment1845, London, UK
Revenue 2016- US $36.8 billion (total)

US $19.3- America

US $12.3- Europe/Middle East/ Africa

US $5.2- Asia Pacific

Deloitte by numbers

 Particulars

2016

2015

2014

2013

2012

Revenues 
(US$ in billions)

$36.8 

$35.2

$34.2

$32.4

$31.3

Head counts

244,400

225,000

210,400

200,000+

193,000

Countries and territories

150+

150+

150+

150+

150+

Services and Revenue earned from them:

  • Audit- US $9.4 Billion
  • Risk Advisory – US $4.1 Billion
  • Consulting – US $13.1 Billion   
  • Financial Advisory – US $ 3.3 Billion
  • Tax & legal – US $6.9 Billion

Employees

  • 2,44,400 (approx.) people in over 150 countries and territories on 2016
  • 1,07,942(approx.)- America
  • 86,574(approx.)- Europe/ Middle East/Africa
  • 49,929(approx.)- Asia Pacific

Main Competitors:

Ernst & Young- EY (Ernst & Young) is a multinational professional services firm headquartered in London, United Kingdom. It is one of the largest professional services firm in the world and is one of the "Big Four" accounting firms. In 2016, it has 2,31,000 employees(Approx) in over 700 offices around 150 countries in the world. It provides assurance (including financial audit), tax, consulting and advisory services to companies. In the 2015-16 E&Y have earned revenue of US $ 29.6 Billion.

The current firm was formed by a merger of Ernst & Whinney and Arthur Young & Co. in 1989. That’s the reason it was known as Ernst and Young. But in 2013 it underwent a rebranding to EY, which was the acronym of Ernst and Young. In 2016, EY was the 11th largest privately owned organization in USA which was also ranked on 29 of Fortune’s 100 best companies to work for.

KPMG- KPMG is a Swiss Cooperative professional services company headquartered in Amsterdam, Netherlands. In 2016, KPMG have 1,89,000 employees(Approx) and has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups. It is one of the Big Four auditors, along with Deloitte, Ernst & Young (EY) and PricewaterhouseCoopers (PwC).

 KPMG stands for "Klynveld Peat Marwick Goerdeler." It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in year 1987. KPMG group have earned US $ 25.42 Billion revenue in the fy 2015-16. In the Fortune list of 100 best company to work for KPMG is ranked on 12th position.

 One of the fact in KPMG is that, Workers spend upwards of 50 hours in training per year on average, and 14,700 have official mentors.

PWC- PricewaterhouseCoopers (PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. PwC is a network of firms in 157 countries, 756 locations, with more than 223,500(Approx) people. Revenue of US $ 35.9 Billion was earned in the fy 2015-16. It offers services like  Advisory, Audit and assurance, Entrepreneurial and private clients, Family business services, IFRS, Legal, People and Organization, Sustainability & climate change, Tax, etc..

The firm was created in 1998 when Coopers & Lybrand merged with Price Waterhouse. As of 2016, PwC is the 5th-largest privately owned company in the United States.

Milestones:

  • In 2015, Libero Milone, former Chairman and CEO of Deloitte was appointed as the first Auditor-General of Vatican City and Vatican Bank by the Pope of the Roman Catholic Church
  • In 2015, Indian Railways appointed Deloitte to formulate its entire manpower policy for its gazetted officers and study the functioning and the role of the departments at the zonal and divisional levels.
  •  In 2016, Deloitte acquired advertising agency Heat of San Francisco, best known for Madden NFL from EA Sports.
  •  In September 2016, Apple Inc. have partnered with Deloitte to 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. The main aim is boosting sales of apple products.

Awards:

  •  Deloitte achieved award for “World Tax 2017” with tier one ratings in 50 countries for its tax services.
  •  Forbes in partner with Statista announced Deloitte as the Best Management Consulting Firm, 2017 in US.
  •  FORTUNE's 100 Best Companies to Work For 2017 listed Deloitte at 64.
  • Deloitte has won the coveted Best Companies for Women in India Award 2016 (BCWI Award).
  •  Human Rights Campaign (HRC) 2017 “Best Places to Work” under Consulting and Business Services.
  • The organization also maintained its 11th place position on the publication’s Top 50 Companies for Diversity ranking by DiversityInc.

News:

Deloitte India:

Deloitte Global:                    


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