COMPANY COMPENDIUM

DELOITTE

BY: TITANS
GROUP 4
INTRODUCTION

INTRODUCTION

Deloitte, founded as Deloitte Touch Tohmatsu Limited in 1845 is a UK based Multinational

services firm, which operates from its headquarters in New York City, U.S. In 1845, William Welch
Deloitte(Founder) opened his Auditing firm in London and was the first person to be appointed
as an Independent auditor of a public company-The Great Western Railway. He later went on to
open his office in New York in 1880.
Today, Deloitte provides not only Auditing services but also Services in Consulting, Risk Advisory,
Financial advisory, Legal & Tax issues. It is one of the Big Four firms providing Accounting &
Professional services. It is also one of biggest firms in terms of number of employees (244,400
globally) & revenue, with its earnings reaching a record $36.8 billion.
Deloitte has been ranked by Gartner as the number one consulting services firm for the sixth
consecutive year. Its revenue has increased by 3.40% from $35.2 billion to $36.8 billion. Its
market share remained at constant 11.5% among the consultancy firms. One of the key reasons
for its growth is Growth through acquisition. One of its recent acquisitions is acquiring Cloud
consulting business of Day 1 solutions to provide their clients with advanced and cognitive
capabilities in digital consulting.

Titans Company Compendium 1

HISTORY

HISTORY

PERIOD: 1845-1900
In 1880, Deloitte opened his auditing firm in New York.
In 1893, United States appointed two accountants: Haskins and Sales to investigate their
economic decline and inefficiency. Both of them changed the way U.S. govt did its business by
simplifying work and increasing efficiency. In 1896, they went on to establish one of the major
American auditing firms Haskin & Sales in New York.
In 1898, George Touch established an auditing firm in London, later joined by John Niven. They
later went on to establish Touch, Niven & Co. in U.S.

PERIOD: 1900-1950
In 1900s there were fewer than 500 Certified Public Accountants in the U.S. But this new area
of accounting demanded for enormous number accounting professionals.
In 1933, Arthur Hazelton Carter, President of NY State Society of Certified Public Accountants
convinced the US congress that independent audits should be mandatory for public companies.
In 1952, Deloitte merged his firm (by then known as Deloitte, Plender, Griffiths & Co.) with
Haskins & Sells to form Deloitte Haskins & Sells.

PERIOD: 1950-2000
In 1989, Deloitte Haskins & Sells merged with Touch Ross to form Deloitte & Touch. Due to
some differences, few smaller members of Deloitte & Touch rejected the merger with Touch
and then after merged with Coopers & Lybrand to form Coopers & Lybrand Deloitte.
In 1995, a century after its founding, the partners, Deloitte & Touch voted to create Deloitte
Consulting to better serve our multinational clients.

PERIOD: 2000-PRESENT
Between 2003-2005, Deloitte reorganized its structure to provide better solutions to their
clients. They currently have four subsidiaries which provide client solutions: Deloitte & Touch
LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP and Deloitte Tax LLP.

Titans Company Compendium 2

VISION & MISSION

VISION & MISSION

Our vision is unchanging: We aspire to be the Standard of Excellence, the first choice of the most
sought-after clients and talent.
Our values are timeless & describe the principles that distinguish Deloitte Culture.
Few of our core values are Integrity
Integrity
Outstanding commitment to clients
Maintaining cultural diversity
Commitment to each other

References:
https://www2.deloitte.com/us/en/pages/about-deloitte/articles/about-deloitte-history-
timeline.html
https://www2.deloitte.com/global/en/pages/about-deloitte/articles/vision-values-
strategy.html

Titans Company Compendium 3

 PRODUCTS AND SERVICES

PRODUCTS AND SERVICES

DELOITTE SERVICES REVENUE

11%
27% Audit
19%
Consulting
Financial Advisory
9%
34% Tax & Legal
Risk Advisory

Deloitte Services

Audit & Financial

Consulting Legal Risk Advisory Tax
Assurance Advisory

Controls Business Model

Strategy and Mergers & Commercial Law
Transformation Optimization
Operations Acquisitions solutions
& Assurance (BMO)

Corporate and Business

Cyber
Human Capital Financial Crisis Mergers & Process
risk Services
Acquisitions Solutions
services
Governance, International
Technology Regulatory and Strategic Tax
Employment &
Risk Review (ISTR)
pension
solutions
Financial
accounting for
Tax controversy income tax
solutions
Research and
development and
government
incentives services

Titans Company Compendium 4

AUDITING & ASSURANCE
Auditing & Assurance is generally an on-site examination of various financial statements of an
organization to ensure an organizations compliance requirements. Deloitte provides a 3rd
party auditing service to various organizations that would eventually help those companies to
literally introspect and take necessary actions as required thereby help in reducing the risk
forms in an organization.

CONSULTING
Deloitte reaches out every corner of the world for this USP of its company. Deloitte helps
organizations to improve upon their performances strategically and analytically in various
areas starting from ERP, IT consulting, Human Resource consulting, contract and outsourcing,
operations and technology adaptations thus ensuring the organizations competitiveness in
the era of fast changing world.

FINANCIAL ADVISORY
A Deloitte financial advisor provides financial advice or guidance to clients for compensation.
At Deloitte, financial advisory it mainly deals with different services, such as M&A transactions,
restructurings, raising capital, and forensic investigations. It also has a specialist team that
works vigorously with private equity, venture capital and many other investors and lenders to
position financing and complete transactions for clients.

LEGAL
In the era of globalization, a company like Deloitte offers an overall perspective of the legal
challenges of an organizations country of operation thereby enabling the organization to
tackle the day-to-day constraints & obligations, in achieving its mission and vision.

RISK ADVISORY
Deloitte offers the frameworks to tackle the risks in financial, operations, strategy,
information breach, laws & regulations etc. thereby managing the risk handling effectively.
Thus, ensuring the complete utilization of an organizations potential to gain a competitive
edge.

TAX ADVISORY
Deloitte offers a wide range and distinctive services and solutions in tax issues and
opportunities. The challenges include, to decipher the myriad taxation laws, government
regulations, labor laws, various tax compliances etc. thus providing an organization the
confidence and knowledge to strategically excel globally.

Titans Company Compendium 5

References:
https://www2.deloitte.com/global/en/services/gx-all-businesses-services.html#
https://www2.deloitte.com/global/en/services/legal.html?icid=bottom_legal
https://en.wikipedia.org/wiki/Tax_advisor
https://en.wikipedia.org/wiki/Deloitte
http://www.wellesley.edu/Activities/homepage/consultingclub/wetfeet%20-%20deloitt
e_consulting.pdf
https://www2.deloitte.com/global/en/pages/about-deloitte/articles/about-
deloitte.html
https://www2.deloitte.com
https://en.wikipedia.org/wiki/Tax_advisor
https://www2.deloitte.com/us/en/pages/consulting/solutions/about-deloitte-
consulting-services.html

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BUSINESS MODEL

BUSINESS MODEL
Deloitte works on the basis of personal contact with clients. The partners interact personally
with clients and draw business to the organization.
They work on the model of We sell time- where in the way to success is by leveraging
people and hours and the firm prices its services by the hourly billing method.
However, they also work on the model of we sell intellectual capital where in they work on
the policy of the value-based products where access to the right expertise, knowledge, skill
and experience is provided. The firm offers predefined products called solutions
consultants are engaged to implement a predefined approach to a specific issue or problem -
which is a method to take out costs from the business and still charge clients a traditional fee
rate. They are a response to clients requirement to solve industry issues rather than use
traditional consulting. Solutions can also help clients to align the prices with outcomes, which
is known as value pricing. These solutions are contingent on performance as opposed to the
traditional method based on pure insights. The main reason that this model has not been
adopted more quickly is due to the complexity of the arrangements. However, Products dont
mean that every client gets the same thing.
The firm provides services such as auditing, tax advantageous structures and strategies,
Consulting, Financial & risk advisory and other services such as sustainability and talent
retention & development.
The business model of Deloitte is built so that there is always room for high performers to
continue advancing. The intellectual capital model has had an impact on talent management,
recruitment and the management structure called the traditional pyramid shape.
Deloitte is committed towards making a positive change in the world which reflected not only
in their client work, but also in local projects that help in solving challenging societal and
community issues. For example, in 2016, Deloitte spent more than 1.3 million-man hours
engaging in pro bono projects and volunteerism.

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References
https://www.accountingweb.com/community-voice/blogs/admin/why-are-big-4-and-top-100-
firms-slow-to-change-business-model
https://www.ft.com/content/958e5eaa-5f88-11e4-986c-00144feabdc0?mhq5j=e3
http://accountingresume.net/big-4-accounting-firms/
http://www.michaelsamonas.gr/images/Mixalhs/resources/us_consulting_stbk6_valuehabit_
290806.pdf
http://www.banklink.co.nz/pdfs/Implementing_Value_Pricing_March_11.pdf
https://www2.deloitte.com/global/en/pages/about-deloitte/articles/global-revenue-
announcement.html?id=gx:2sm:3fb:4GR2016:5awa:6About%20Deloitte:20160907100130::Glo
bal&linkId=28466974
https://pcaobus.org/News/Events/Documents/10202014_IAG/Audit_Firm_Business_Model.p
df
https://www.vscpa.com/Public/Catalog/CourseDetails.aspx?courseID=182-20163

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MAJOR MILESTONES

MAJOR MILESTONES

1845-William Welch Deloitte was the first person to be appointed an independent

auditor of a joint stock company, namely the Great Western railway(GWR).
1896- Haskins & Sells in New York was described as "the first major auditing firm to be
established in the country.
1952- Deloitte merged his firm with Haskins & Sells to form Deloitte Haskins & Sells.
1989- Deloitte Haskins & Sells merged with Touch Ross in the USA to form Deloitte &
Touch and created Deloitte & Touch Consulting Group.
2000- Deloitte acquired Eclipse to fortify its consulting capabilities. Eclipse later gave
rise to Deloitte Online and Deloitte Digital.
2002- Deloittes UK practice merged with Arthur Andersens UK practice. Deloitte later
merged with practices in Spain, the Netherlands, Portugal, Belgium, Mexico, Brazil and
Canada. Ineum Consulting was a consequence of the spinoff of Deloitte France's
consulting division.
2005- Deloitte became the largest accountancy firm in China by acquiring Beijing Pan-
China CPA Ltd.
2011- Deloitte acquired DOMANI Sustainability Consulting and ClearCarbon Consulting.
2012- Deloitte's first entrance into the mobile application field with the acquisition of
bermind Inc.
2013- Deloitte acquired substantially all of the business of Monitor group- one of the
market leaders in consulting.
2015- Libero Milone, former Chairman and CEO of Deloitte appointed as the first
Auditor-General of Vatican Bank.
2016- Enterprise Next: A joint venture between Apple Inc. and Deloitte to make use of
5000 consultants service has been launched which furthered the reputation it is already
holding.
2016- Deloitte overtook PwC as worlds biggest accountant in October,2016.

Titans Company Compendium 9

VARIOUS PLANTS AND OFFICES

VARIOUS PLANTS AND O FFICES

OFFICES IN INDIA
Deloitte has its offices in 8 major cities in India

Ahmedabad

Mumbai

Kolkata Bangalore

India
Delhi/Gurgaon Chennai

Hyderabad

Pune

GLOBAL OFFICES:
Deloitte has presence in 142 countries globally currently tabulated below

Australia Argentina Azerbaijan Austria

Albania Algeria Armenia Angola
Bahamas Barbados Belarus Bermuda
Bosnia and British Virgin Bulgaria Bahrain
Herzegovina Islands
Benin Belgium Bolivia Brazil (Brasil)
Brunei Darussalam Cambodia Canada Channel Islands
and Isle of Man
China Costa Rica Congo Croatia(Hrvatska)
Cameroon Cayman Islands Chile Colombia

Titans Company Compendium 10

 Curacao Cyprus Czech Republic Denmark
Dominican Democratic Dutch Caribbean Ecuador
Republic Republic of Congo
El Salvador Equatorial Guinea Egypt Estonia
Ethiopia Finland (Suomi) FYR Macedonia France
Gabon Georgia Ghana Gibraltar
Germany Greece Guam Guatemala
(Deutschland)
Honduras Hungary Iceland (sland) Indonesia
Ireland (ire) Israel Ivory Coast India
Iraq Islamic Finance Italy (Italia) Jordan
Japan Kazakhstan Korea Kuwait
Kenya Kosovo Kyrgyzstan Lao PDR
Lebanon Lithuania (Lietuva) Latvia (Latvija ) Libya
Luxembourg Malaysia Mauritius Middle East
Mongolia Morocco Malta Mexico
Moldova Montenegro Mozambique Myanmar
Namibia New Zealand Nigeria Netherlands
Nicaragua Norway (Norge) Oman Pakistan
Panama Paraguay Philippines Portugal
Palestinian Ruled Papua New Guinea Peru Poland
Territories
Qatar Romania Russia Saudi Arabia
Serbia (Srbija) Slovak Republic South Africa Sweden (Sverige)
Syria Senegal Singapore Slovenia (Slovenija)
Spain (Espaa) Switzerland Taiwan Tanzania
Timor-Leste Tunisia Togo Tajikistan

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 Thailand Trinidad and Turkey Uganda
Tobago
United Arab United States Uzbekistan Ukraine
Emirates
United Kingdom US Virgin Islands Uruguay Venezuela
Vietnam Yemen

Titans Company Compendium 12

MANPOWER STRENGTH

MANPOWER STRENGTH
Nearly 72,000 new professionals were hired during the fiscal year 2016-17
Current total global workforce of 244,400

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FINALCIALS

FINANCIALS
Revenues for fiscal year 2016 were US$36.8 billion.

Revenues

40 36.8
35.2
34.2
35 32.4
31.3
28.8
30
26.6
Revenues (US$ in billions)

25

20

15

10

0
2010 2011 2012 2013 2014 2015 2016
Year

https://www2.deloitte.com/in/en/pages/about-deloitte/articles/about-deloitte.html

Titans Company Compendium 14

SWOT ANALYSIS

SWOT ANALYSIS
SWOT analysis is an acronym for strengths, weaknesses, opportunities, and threats. Deloitte
Touch Tohmatsu Limited or Deloitte a UK-incorporated multinational professional services
firm with operational headquarters in New York City.

Strengths
Brand name
Value driven approach
Ability to invest
Risk consulting

Weaknesses
Weak presence in outsourcing market
Deloitte is primarily perceived as an accounting firm

Opportunities
Green agenda
Mid-market penetration
Pattern based stretegy

Threats
MNCs and IT services companies investing in consulting
Other Big Four investing in analytics and cloud

References:
https://yousigma.com/comparativeanalysis/deloitteTouch tohmatsuswot.pdf
https://www.Big4.com
https://www2.deloitte.com/global/en/pages/about-deloitte/articles/global-revenue-
announcement.html
SWOT: Deloitte, Business Consulting Services, Worldwide
Gartner for Business Leaders Research Note G00175106, Rolf Jester, Jacqueline Heng,
Michael von Uechtritz, 14 May 2010, V2 RA4 05202011

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MAJOR COMPETITORS

MAJOR COMPETITORS
Deloitte is one of the largest professional service firms in the world and it provides services to a
large number of industries. So, the full list of its competitors would be quite extensive. Here we
are providing the list of some of its major competitors in the various industry segments in
which Deloitte operates

CONSULTING
Deloitte is one of the big four consulting firms in the world. The three other major competitors
are

Ernst and Young - Ernst and Young (EY) is a multi-national professional services
firm which has its headquarters in London, United Kingdom. It provides services like
consulting, tax, financial audit and advisory help to companies in various sectors

PricewaterhouseCoopers (PwC) - PwC is considered to be the second largest

professional services firm in the world. The firm was formed in 1998 by a merger between the
two companies Coopers & Lybrand and Price Waterhouse.

KPMG - KPMG is a professional service firm with its headquarters in Amsterdam,

Netherlands. The name stands for Klynveld Peat Marwick Goerdeler. The name was chosen
when Klynveld Main Goerdeler merged with Peat Marwick.

IT SERVICES
IBM - IBM (International Business Machines Corporation) is an American multi-
national company which manufactures and sells computer hardware and software and offers
hosting and consulting services in areas related to mainframe computers and nanotechnology.

TCS -TCS (Tata Consultancy Services) is an Indian multinational company which

provides Information Technology (IT) services, consulting and business solutions. It is one of
the largest Indian companies by market capitalization.

HP Enterprise - Hewlett Packard (HP) Enterprise Company is an American

multinational company which works in servers, storage, networking, consulting and support. It
was formed as part of the splitting of the original Hewlett Packard Company.

Titans Company Compendium 16

 AUDIT AND TAX
The big four players in the Audit and Tax sector are same as those in the consulting sector.
Thus, the major competitors of Deloitte are once again :

Ernest and Young (EY)

PricewaterhouseCoopers (PwC)
KPMG

Titans Company Compendium 17

FUTURE PLANS

FUTURE PLANS
Business leaders are faced with a problem that the underlying assumptions made during
structuring their companys competitive strategy are constantly changing. The scenario
planning program Monitor Deloitte offers business leaders an approach to understand the
uncertain environment and adapt to the changes quickly. This is one of the recent initiatives of
Deloitte.
Deloitte professionals work closely with clients to resolve the questions of tax residency and
domicile and provide multi-jurisdictional tax and estate planning advice. In India, Deloitte
welcomed GST with open arms and is working towards making it acceptable across all sectors.
Deloitte India has dedicated several officials to equipping clients on their GST journey.
Deloitte will help its clients to apply the legislature and rules to their businesses. It would also
help them to adopt and adapt to the technology needed to meet the new regimes
requirements and would even guide them about necessary reporting and filing requirements.
Infrastructure and Capital Projects (I&CP) is the latest Integrated Market Offering (IMO) to be
launched by Deloitte India. Many of their clients operate and invest in large capital assets
ranging from mining to manufacturing plants and highways to headquarters.
Conservative estimates project the global I&CP market at US$46T through 2030 as public and
private investment in infrastructure continues to rise as a result of urbanization, economic
growth, aging assets and rising energy demand.
The IMO program brings together an extensive range of services into an integrated, end-to-
end offering to support clients in financing, delivering, operating and investing in
infrastructure and other major built assets. Providing the best practice that is being adopted
globally and world-class innovation, the I&CP IMO offers account teams across all member
firms a new angle to building distinctive relationships with their clients.

Source: www2.deloitte.com

Titans Company Compendium 18

RECENT NEWS

RECENT NEWS

Deloitte has been conferred with Best Companies for Women in India Award 2016
(BCWI Award) based on the "2016 Working Mother & AVTAR Best Companies for
Women in India survey"
Deloitte overtook PwC as worlds biggest accountant in October,2016
Effect of Brexit on Deloitte:
As Theresa May did not have any plans on EU negotiations, Deloitte threatened to
move its work out of UK as on 17th November 2016. Deloitte being the worlds
largest consultancy firm said that non-EU migrants are crucial for their business

References:
http://economictimes.indiatimes.com/news/company/corporate-trends/deloitte-amongst-
top-10-best-companies-for-women-in-india/articleshow/55389314.cms
http://www.telegraph.co.uk/business/2016/10/04/deloitte-overtakes-pwc-as-worlds-
biggest-accountant/
http://www.independent.co.uk/news/business/news/brexit-deloitte-says-will-move-work-
out-of-uk-theresa-may-immigration-restrictions-article-50-a7422461.html

Titans Company Compendium 19