October 5, 2022

Audit is a Cornerstone of Their Work, Says Big 4 Firm Kicking Ass in Consulting

Just saw this beauty pop up on the ole Twitter timeline:

 

Funny you say that, guys, because when we looked at your big, pretty revenue announcement earlier this week, the first thing we noticed was double digit growth in consulting and audit posting a 2.5% gain. Look, it's right here in the release even:

Growth was led by Consulting, which experienced double-digit growth (10.3 percent in local currency), followed by Tax & Legal (7.7 percent in local currency). Financial Advisory and Enterprise Risk Services also experienced strong growth with 6.8 percent and 4.2 percent (in local currency), respectively. Audit experienced growth of 2.5 percent in local currency, reflecting growth even after accounting for the network’s significant investment in quality around its audit service.

You'll note "local currency" is the US dollar. So basically, audit services have grown at about the rate of inflation.

The Salzberg's own quip seems to diss audit and focus on "forging new ground," which is totally code for "shit that isn't audit":

“By repeatedly forging new ground, Deloitte continues to stay ahead of the considerable disruption facing clients, our people, and the society in which we operate,” said Barry Salzberg, Deloitte Touche Tohmatsu Limited CEO. “Member firms remain sharply focused on their unique ability to address the specific needs of their clients through distinctive breadth of skills, deep industry knowledge and strategic investments, while bolstering trust in the marketplace, hiring and developing the best talent, and delivering value to society.”

Cornerstone? Hardly.

 

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Sarcastically Surprised Kirk meme

The Talent Shortage Has Gotten So Bad Clients Are Now Doing Their Own Audit Documentation

The Securities and Exchange Commission has charged Deloitte China with failing to comply with fundamental U.S. auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. From the SEC press release: The Securities and Exchange Commission today charged […]

According to This List, Deloitte is the Best Big 4 Firm For Women

Fortune has come out with their 100 Best Large Workplaces for Women list and while no accounting firms made the top ten, Deloitte managed to claw their way up to #16 from #51 in 2021 thus making them the highest-ranked Big 4 firm on the list. To determine the Best Workplaces for Women, Fortune research […]