Comments on: Is Deloitte The Perfect Firm?

By: re: The Auditors » Blog Archive » The Fannie Mae Freddie Mac Takeover – Now We’re Holding The Bag

Thu, 30 Jun 2011 14:43:38 +0000

[...] They are also profit-making private partnerships, with the business purpose of creating wealth for their owners, the partners of the firms. How much longer can we tolerate this inherent conflict of interest, especially given the fact that it is serving no one well except the owners of the firms? That is, as long as the firms don’t fail, like Arthur Andersen, where partner owners who had no real control over the destiny of their firm were wiped out. If another audit firm fails, and it will, the current firms’ partners, the majority of whom also have no real control over their investment in equity in the firms, lose their equity. In the meantime, given the desire of the firms to maintain high levels of profits for their partners, some of them may lose their jobs, along with their staff. [...]

By: rOHB

rOHB — Wed, 09 Jun 2010 06:38:50 +0000

Interesting to see these posts. I am a big fan follower of you and like the different perspectives that you throw in….never thought journalism can be fun back to the point, I think I would do more research into these lay-offs. Do you know that Deloitte US now has a full fledged audit outsourcing location in Hyderabad – India where it employs more than 4000 employees to do audit,consulting,tax and SAP work ? They have annual targets to move work from US to India…60% of the Investment management audit is now done from India.

The strategy is to increase the offshore hrs as the rate is only $27 per hr as compared to average $300 something in US. If you look at volume and sustainability, then you are looking at Seniors and Managers job that are at stake..

have a good evening and love reading your posts

rOHB

By: re: The Auditors » Blog Archive » How Satyam Supported PwC’s Schizophrenic Strategy To Reenter The Systems Integration Business

Tue, 26 May 2009 14:07:53 +0000

[...] Deloitte has had some success at staying out of trouble, other than the kind you can get into for project failure, while hanging on to a lucrative consulting practice that includes heavy systems implementation and integration services. The other three firms later reexamined their precipitous decisions and PwC, in particular, began devising a strategy to get back in. Only one problem. They had a five year non-compete with IBM that prohibited their involvement with anything anywhere near approaching systems integration work until the summer of 2007. [...]

By: Pete

Pete — Fri, 24 Oct 2008 06:51:00 +0000

Hey Francine

I am the guy who did the xbrl project that got the 86% reduction in processing time. Interesting to know that this came from the Australian Deloitte practice via our innovation program.

If you want to see other cool stuff check out http://www.leadershipacademy.com.au

Good news here (in Oz) is that we grew by 25% last year and will do double digits again, we are happy and engaged

As for our commitment to diversity we had a Kenyan, a Vietnamese guy and an Aussie on the team so it seems to be working here.

Anyway this is an international view from a Deloitte guy on the other side of the world, suffice to say Deloitte is a pretty broad church and at the end of the day I think we all strive to make the firm a great place to work but things are always going to get ugly if there is a financial meltdown

By: Anonymous

Anonymous — Tue, 21 Oct 2008 17:49:00 +0000

Meanwhile, the Treasury Department announced Tuesday that it had selected two major accounting firms to help manage the government's $700 billion rescue program for the financial system.

The department selected Pricewaterhouse Coopers to be an auditor for the program that will purchase troubled assets from financial institutions while Ernst & Young was chose to provide general accounting support.

THIS IS A SHAME AS THESE FIRMS GOT US IN THE MESS WITH FANNIE MAE AND FREDDIE MAC TO BEGIN WITH AND NOW ARE BEING REWARDED WITH HUGE CONTRACTS TO FIX THE MESS! THEY WILL CONTINUE TO FLY-IN NON-US CITIZENS TO DO THE WORK AT OUR EXPENSE AS NOTHING IN OUR ILL CONCEIVED GOV'T CONTRACTS PREVENTS THEM FROM DOING SO, WHILE OTHER AMERICANS ARE WORKING HARD AND BARELY MAKING ENDS MEET! I AM A FORMER PW AND EY ALUMNI AND THIS EVEN MAKES ME SICK TO SEE A CONTRACT AWARDED THIS UNFAIRLY!

By: Travis

Travis — Fri, 12 Sep 2008 02:49:00 +0000

@anonymous

That was a useless post that isn’t relevant to this blog. Also, you may have more credibility if you would use punctuation.

By: Anonymous

Anonymous — Tue, 02 Sep 2008 17:23:00 +0000

Deloitte is full of shit. They are racist company and where they say they pride themselves in diversity is a lie i have never heard more bull in my life. Experiencing first hand being told that i had to change my hair because i am not going to work for MTV. What gives people the right to talk like this and get away with it. Dont work there Run for the border if you can. Even people who speak several languages are tole they are in america now and should speak english. Diversity my ass it is all a front.

By: Francine McKenna

Francine McKenna — Fri, 29 Aug 2008 04:44:00 +0000

@anonymous The picture from Twitter is me. For sure. The comments come from a source I met with last week. If you’re my long lost twin, I’d like to know. Drop me an email at fmckenna@mckenapartners.com

By: Francine McKenna

Francine McKenna — Fri, 29 Aug 2008 04:43:00 +0000

By: Anonymous

Anonymous — Fri, 29 Aug 2008 04:22:00 +0000

Just curious…where did you get that quote highlighted in blue (http://1.bp.blogspot.com/_AOMAlRNehzE/SLLclDlwWfI/AAAAAAAAA8c/w3AXoGdJUrU/s1600-h/Picture+5.png)? I think that’s a picture of me (and I’m a former DT’er) or my long lost twin! It’s really bizare!