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Deloitte Touche Tohmatsu (well known by its brand name Deloitte) is the second largest professional services firm in the world after PricewaterhouseCoopers and one of the Big Four auditors, a group of the largest international public accountancy firms. At $16.4 billion USD, it earned the most revenue out of the Big Four in 2004. In addition to its accounting practice, Deloitte is one of the largest business advisory firms in the world, providing strategic and operational management consulting services to Fortune 500 companies. Image File history File links Deloittes logo, claiming fair use File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...
A private company is a company that is independently owned. ...
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Professional Services Infrequent, technical, or unique functions performed by independent contractors or consultant whose occupation is the rendering of such services. ...
An audit is an evaluation of an organization, system, process, or product. ...
A tax (also known as a dutyor Zakat in islamic economics) is a charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ...
Management consulting (sometimes also called strategy consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting. ...
Revenue is a US business term for the amount of money that a company can receive from its activities, mostly from sales of products and/or services to customers. ...
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2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...
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2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...
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Professional Services Infrequent, technical, or unique functions performed by independent contractors or consultant whose occupation is the rendering of such services. ...
PricewaterhouseCoopers (or PwC) is the worlds largest professional services firm. ...
The Big 4 (or the Big Four) is a group of international accountancy firms that handle the vast majority of audits for publicly traded corporations. ...
Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about information that helps managers and other decision makers make resource allocation decisions. ...
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It has been designated the: International Year of Rice (by the United Nations) International Year to Commemorate the Struggle against Slavery and its Abolition (by UNESCO) 2004 World Health Day topic was Road Safety (by World Health Organization) Year of the Monkey (by the Chinese calendar) See the world in...
It was previously known as Deloitte & Touche, which was formed by the merger of Touche Ross and Deloitte Haskins & Sells (outside of the UK) in 1990. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, the third name coming from the firm Tohmatsu & Co, which merged into Touche Ross in 1975. The names in the company title refer to William Welch Deloitte, George Touche, and Admiral Nobuzo Tohmatsu. The name "Deloitte" is the firm name in longest continuous usage in the accounting profession. Deloitte Touche Tohmatsu is a Swiss Verein, a membership organization under the Swiss Civil Code whereby each member firm is a separate and independent legal entity. Its global headquarters are located in Manhattan, New York City. Deloitte Haskins & Sells was a predecessor firm of Coopers and Lybrand UK (now PricewaterhouseCoopers) and Deloitte Touche Tohmatsu elsewhere in the world. ...
This article is about the year. ...
1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ...
1975 (MCMLXXV) was a common year starting on Wednesday (the link is to a full 1975 calendar). ...
Admiral Nobuzo Tohmatsu (等松 農夫蔵, April 25, 1896 - December 28, 1980) was a paymaster in the Imperial Japanese Navy who went on to become an accountant and a namesake of the global auditing firm Deloitte Touche Tohmatsu. ...
A Swiss Verein (German for association) is a business organization consisting of a number of independent offices, each of which has limited liability vis a vis the others. ...
A voluntary association (also sometimes called just an association) is a group of individuals who voluntarily enter into an agreement to form a body (or organization) to accomplish a purpose. ...
A legal entity is a legal construct through which the law allows a group of natural persons to act as if it were an individual for certain purposes. ...
The Borough of Manhattan, highlighted in yellow, lies between the East River and the Hudson River. ...
Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ...
According to the firm's website, as of 2004, Deloitte had a total of 115,000 professionals at work in nearly 150 countries, delivering audit, tax, consulting and financial advisory services to more than one-half of the world's largest companies. It has been designated the: International Year of Rice (by the United Nations) International Year to Commemorate the Struggle against Slavery and its Abolition (by UNESCO) 2004 World Health Day topic was Road Safety (by World Health Organization) Year of the Monkey (by the Chinese calendar) See the world in...
An audit is an evaluation of an organization, system, process, or product. ...
A tax (also known as a dutyor Zakat in islamic economics) is a charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ...
Management consulting (sometimes also called strategy consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting. ...
Deloitte & Touche USA LLP, Deloitte's U.S. firm, provides professional services through nearly 30,000 people in the U.S. Services are provided by its subsidiaries, including Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and recently, Deloitte Financial Advisory Services LLP. For other uses, see United States (disambiguation) and US (disambiguation). ...
Deloitte recently implemented the Women's Initiative (WIN) which is intended to make Deloitte a firm where "high-performing" women can find careers that are both satisfying and that provide expanding advancement opportunities. Deloitte also claims to have the highest percentage of women directors, partners, and principals among the Big Four accounting firms
History
John Ballantine Niven established Touche Niven alongside Haskins & Sells in the Johnston Building at 30 Broad Street in 1900 in New York. At the time, there were fewer than 500 CPAs practicing in the United States, but the new era of income taxes was soon to generate enormous demand for accounting professionals. Broad Street is one of two places in the United Kingdom, either: Broad Street, Birmingham Broad Street station, a closed station in London Broad Street is a 15-mile long road through Richmond, Virginia. ...
Official language(s) None, English de facto Capital Albany Largest city New York City Area - Total - Width - Length - % water - Latitude - Longitude Ranked 27th 141,205 km² 455 km 530 km 13. ...
In 1913, Niven opened the organization's first branch offices in Minneapolis and Chicago. That same year, the 16th Amendment to the Constitution allowed income tax to be levied on Americans for the first time. Compared with modern levels, the 1913 rate of 1% on taxable incomes over $3,000, rising to 7% on taxable incomes over $500,000, seems low, but, as the Journal of Accountancy noted that year, it was "indubitable that the income tax law is to have a more far-reaching effect upon public accountants than upon any other profession or business in the country.
The Journal was so convinced of the demands that it added a tax column—and asked Niven to be the editor. His column advised accountants on income tax requirements, preparing them for the impact of World War I, when federal spending rose from $742 million in 1916 to $18.9 billion in 1919. By then, income tax provided 58% of federal revenues, and the experts who handled income taxes found their skills in high demand.
After the Crash: Audits and regulations There were numerous calls for independent auditing in the early decades of the century. But these calls were largely ignored by Washington and Wall Street regulators. The stock market crash of 1929 and the ensuing Depression brought the issue into the public spotlight, especially when it became obvious that proper accounting practices might have prevented some bankruptcies and consequent unemployment. Look up depression in Wiktionary, the free dictionary. ...
On April 1, 1933, Colonel Arthur Carter, President of the New York State Society of CPAs, testified before the U.S. Senate Committee on Banking and Currency. Carter helped convince Congress that independent audits should be mandatory for public corporations. The 1933 Securities Act subsequently required public corporations to file independently certified registration statements and periodic reports. A year later, the Securities and Exchange Commission was created to administer the new legislation. The Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ...
Postwar growth After World War II, America stood on the brink of historic economic expansion. In this environment, in 1947, Detroit accountant George Bailey, then president of the AICPA, 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. Headed by Bailey, the organization grew rapidly, in part by creating a dedicated Management Consulting (MC) function. It also forged closer links with organizations established by the cofounder of Touche Niven, George Touche: the Canadian organization Ross, Touche and the British organization George A. Touche. In 1960, the organization was renamed Touche, Ross, Bailey & Smart, becoming Touche Ross in 1969. John William Queenan joined Haskins & Sells in 1936. As managing partner from 1956 until his retirement in 1970, he led the organization through major developments in the profession. Haskins & Sells experienced its own major development by merging with 26 domestic organizations and establishing offices in Canada, Central and South America, Europe, and Japan. Combatants Allies: Poland, British Commonwealth, France/Free France, Soviet Union, United States, China, and others Axis Powers: Germany, Italy, Japan, and others Casualties Military dead:17 million Civilian dead:33 million Total dead:50 million Military dead:8 million Civilian dead:4 million Total dead:12 million World War II...
Leading the information revolution In the 1950s, information technologies became increasingly important and few professions were affected more than accounting. Data processing machines freed accountants to focus on developing and monitoring systems to improve the way clients managed. Characteristically, Touche Ross led the profession. In 1952, it became the first large accounting organization to automate its bookkeeping. Later, Gordon Stubbs wrote Data Processing by Electronics and Introduction to Data Processing, the first two professional brochures of their kind. In 1964, the organization's work with statistical sampling led to the Auditape System, which brought computer technology to audits. The organization's MC group, which provided computer systems advice, felt the greatest impact from the technology revolution. The organization did pioneering work for several leading corporations and for many government agencies. At Touche Ross, the discipline matured during the 1960s and 1970s under the direction of leaders like Robert Trueblood and Michael Chetkovich. Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ...
The 1980s: A new style of management In the 1980s, Deloitte & Touche led the profession through a decade of unprecedented merger and acquisition activity. The organization's proficiency in mergers and acquisitions emerged in the 1970s when a new style of management became prominent in corporate America. The new managers were financially sophisticated and aware of the synergies and economies of scale offered by mergers and acquisitions. They relied on their accountants for more than audit and tax skills, and looked for insightful advice, technological expertise, global operations and support for their merger and acquisition activity.
A new generation of leaders rose to the top of Touche Ross and Deloitte Haskins Sells during these years. In 1982, the two-man team of David Moxley and W. Grant Gregory succeeded Russell Palmer as leaders of Touche Ross. In 1985, Edward A. Kangas, who had made his name in management consulting, was appointed managing partner of Touche Ross. In 1984, J. Michael Cook became managing partner of Deloitte Haskins Sells.
As the rate of mergers and acquisitions accelerated, corporate America became increasingly globalized. Corporations increasingly sought advisers skilled in all areas of accounting and proficient at solving problems throughout the world. Many turned to Deloitte & Touche for just such assistance. To cap off this decade of merger and acquisition activity, Touche Ross and Deloitte Haskins Sells merged in 1989.
The newly formed Deloitte & Touche was led by J. Michael Cook and Edward A. Kangas, who shared the belief that successful accountants of the future would combine strong professional abilities with a deep understanding of their clients’ industries, situations and needs.
Competing for the future The information revolution and globalization offered the organization larger and more diverse challenges. With the dismantling of the Berlin Wall, the emergence of trading regions such as the European Economic Community, the growing economic power of the Pacific Rim and the growth in cross-border trade through agreements such as NAFTA, the organization's clients demanded increasingly integrated cross-border solutions.
Deloitte & Touche set out to provide the coordinated, global services and solutions that clients required. To do so, the organization needed more than technological sophistication and knowledge of international business. It needed, as managing partner James E. Copeland, Jr., pointed out in 1994, the intellectual equivalent of systems integration—the ability to combine competencies from all functional disciplines across national borders to create solutions for clients.
In 1995, a century after its founding, the partners of Deloitte & Touche voted to create Deloitte Consulting to better serve our multinational clients. While the specifics of the world of business have changed in the past 100 years, the overall commitments and goals of the organization remain the same as the day Haskins and Sells shook hands on their partnership, and Touche sent Niven to open an office in New York. As Haskins noted more than 100 years ago, the “study and interest is the soundness of the world of affairs.” Deloitte's goal continues to be to “simplify work so that it can be done more rapidly and more effectively.”
Diversity Deloitte was named one of the "100 Best Companies to Work For" by Fortune magazine and "100 Best Companies for Working Mothers" for 2004 by Working Mother magazine. The 2004 Fortune 500 issue The magazine Fortune was founded by Time Magazine co-founder Henry Luce in 1930 at the outset of the Great Depression. ...
It has been designated the: International Year of Rice (by the United Nations) International Year to Commemorate the Struggle against Slavery and its Abolition (by UNESCO) 2004 World Health Day topic was Road Safety (by World Health Organization) Year of the Monkey (by the Chinese calendar) See the world in...
See also The Big 4 (or the Big Four) is a group of international accountancy firms that handle the vast majority of audits for publicly traded corporations. ...
The Deloitte football money league is a ranking of football clubs by income, made by the accountancy firm Deloitte. ...
Before the signing ceremony of the Sarbanes-Oxley Act, President George W. Bush meets with Senator Paul Sarbanes, Secretary of Labor Elaine Chao and other dignitaries in the Blue Room at the White House July 30, 2002. ...
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