Today at Dell World, Dell and Deloitte announced a set of solutions focused on solving two specific technology challenges: helping companies better manage, scale and secure their IT infrastructure to enable effective customer experiences, and delivering improved patient outcomes in healthcare through better use of transformational technology and automation. The two industry leaders intend to develop and sell an expanded set of future-ready, infrastructure, software and services to help solve some of the many pressing challenges facing customers. [Dell, Deloitte; Earlier]
Related Posts
Deloitte Changes Its Mind on Kohlberg Capital’s Ability to Value Its Investments
A friend of GC pointed us to this 8-K filed by Kohlberg Capital Corporation yesterday. Unless we’re misinterpreting this, there are some seriously awkward conversations going on between Deloitte and Kohlberg right now (our empahsis):
Deloitte issued an unqualified opinion on the Company’s December 31, 2008 financial statements, which was included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009. The Company is not aware of any allegation or belief by Deloitte that the information provided by the Company to Deloitte at the time of the preparation of the Financial Statements regarding the Company’s valuation methodology and procedures was incomplete or inaccurate or omitted any information requested by Deloitte at such time. On December 10, 2009, the Company and its management were advised by Deloitte that (i) the audit report issued by Deloitte accompanying the Company’s financial statements for the fiscal year ended December 31, 2008 in the Company’s Annual Report on Form 10-K for such fiscal year and (ii) Deloitte’s completed interim reviews of the Company’s financial statements for the interim periods ended March 31, 2009 and June 30, 2009 in the Company’s Quarterly Reports on Form 10−Q for those respective periods should no longer be relied upon because Deloitte had changed its position with respect to the appropriateness of the methodology and procedures used by the Company under SFAS 157 to value the Company’s investments as of the end of each of those periods and, as a result, the Company has been informed that Deloitte now believes, based upon such changed position and the additional information provided to Deloitte by the Company following Deloitte’s internal inspection process, that such Financial Statements contain material misstatements with respect to the value of the Company’s investments included therein. Accordingly, the Financial Statements should not be relied upon until the foregoing matters are resolved.
This filing followed up Kohlberg’s filing of an 8-K and form 12b-25 on November 9th to let everyone know, um, yeah, that Q is going to be late because Team D wants to take a look at this 157 stuff again. That was probably annoying enough.
But nowwwww it looks like the audit team spent the last month realizing that the pooch had been screwed on the last two 10-Qs annnnd last year’s 10-K. So yeah, don’t pay attention to the those filings. The one bright side to this is that Kohlberg had the sense to not file an unreviewed Q.
If you’ve got details on this, definitely get in touch with us, we’d love to know how the partner broke the news and how Kohlberg took it. The 8-K certainly doesn’t do that conversation justice.
Engineer Curious to Know if an Advisory Role with PwC or Deloitte Would Be a Good Opportunity
Ed. note: Looking for career guidance from a couple of Big 4 expats or our resident permanently ink-stained wench? Email us at advice@goingconcern.com.
Hello,
I have become an avid reader of your website and need your help regarding an opportunity. I have an engineering background and 5 years of experience in the heavy construction industry specifically oil & gas. In hopes to moving on to something different and possibly working as a consultant I have got a chance to work at PWC and Deloitte in a senior associate advisory role. I do know that these companies are primarily in audit but the sales pitch they gave me was that they were trying to build the Capital Projects Advisory division. Do you all think it is good opportunity?
Sincerely,
Chugga Chugga Choo Choo
Dear Chugs,
As a self-proclaimed avid reader, I hope you caught the post I did in June about the engineering consultant in a similar situation as yours. Check it out for feedback focused on what to do once you start at your new gig in a Big 4’s advisory practice.
That said, you’re asking if the chance to work at the #1 or #2 public accounting firms in the world are “good” opportunities. I follow up your question with one of my own:
If working for #1 or #2 is not a good opportunity, what more are you looking for?
So yes, they are great opportunities to jump start your career into the “consulting” slash advisory biz. Sure, they crank out audits and tax returns, but those are very different revenue generating streams than their advisory practices. To put things in more engineering terms – wary of working in the advisory group of PwC or DT because they perform assurance services is like turning down an aerospace engineering job at GE because they also make light bulbs.
Assuming the offer details are similar, look at each firm’s Capital Projects practices. Which group is more established? Have they made other external hires recently? What is each group’s current market share/focus, and what are long term plans?
Good luck with whichever role you pursue, and welcome to the Big 4 community.
Cheers,
DWB
Layoff Watch ’20: Deloitte Has Begun Handing Out Thousands Of Pink Slips (UPDATE)
[Updated on June 12 with some additional information.] We’ve got some new info to share […]