Deloitte’s Latest PCAOB Inspection Report Is Its Worst Since 2017
Uh-oh, this cant’t make Joe U., Lara Abrash, and other Deloitte audit folks happy (bold part added by us for emphasis): In the 2021 inspection of Deloitte & Touche LLP, the PCAOB assessed the firm’s compliance with laws, rules, and professional standards applicable to the audits of public companies. We selected for review 54 audits […]
Compensation Watch ’21: Deloitte Puts Mid-Year Raises On the Table (NEW UPDATE)
[Updated on Dec. 14 with market adjustment message to employees, additional raise percentages.] Mid-year raises are definitely rolling out at Deloitte now that a comp thread has been created on Reddit. To recap, in late September, Deloitte CEO Joe Ucuzoglu told staff in an email (scroll down for the full text of Joe U.’s email) […]
Deloitte Came Oh So Close to Having a Historically Low Audit Deficiency Rate
If it was any other year, champions of audit quality would be throwing Deloitte a ticker-tape parade for only having two glaring errors out of 53 audits inspected in the firm’s newly released 2020 PCAOB inspection report. But it was PwC auditors who were the ones pulling ticker-tape out of their hair while Deloitte was […]
Bonus Watch ’21: Deloitte’s Audit Practice Is Trying to Nip This ‘Great Resignation’ Thing In the Bud By Offering Retention Bonuses
There’s a firm that finally gets it when it comes to giving employees of one of its core lines of service a reason not to join the mass exodus that is going on right now in the Big 4. It’s not promoting some fictitiously great company culture. It’s not giving employees Omaha Steaks or 1-800-Flowers […]
Deloitte Is Doing a Much Better Job Lately of Not Screwing Up Audits
While PwC waits with bated breath for the PCAOB to release the firm’s 2020 inspection report so it can presumably take an audit quality victory lap around the other Big 4 firms, Deloitte can at least say it has had the lowest audit failure rates among the Big 4 the past three years. For the […]
Punit Renjen Gets Another Four Years as Deloitte Global CEO
Because June 1 is always New Year’s Day in the Deloitte universe, I woke up this morning to a shit-ton of Deloitte personnel news, so let’s get right to it. First, Deloitte Global CEO Punit Renjen was elected to sit in the big chair for four more years. His second term began today. It has […]
The PCAOB Is Sick and Tired of Not Being Told About Firms’ Past Disciplinary Hearings
RSM US isn’t the only firm that has been lazy about disclosing to the PCAOB that they’ve been involved in a non-PCAOB disciplinary proceeding. In fact, RSM’s affiliate in Hong Kong and Deloitte’s affiliate in Colombia are also guilty of taking too damn long to send the PCAOB the proper paperwork. And now both firms […]
Let’s Congratulate Deloitte’s New Audit and Consulting Bosses
Before I sit down to watch the NCAA men’s basketball championship game tonight, I’d be remiss not to tell you guys about some big news coming out of D-town this afternoon: Deloitte US has appointed Lara Abrash as chair and CEO of Deloitte & Touche LLP, leading Deloitte’s U.S. Audit & Assurance practice; Dan Helfrich as chairman and CEO […]
No One Seems to Care That Deloitte Named Joe Ucuzoglu CEO
Is it me or does there seem to be absolutely no buzz about Joe Ucuzoglu being elected as the new CEO of Deloitte? Is it because people are still talking about yesterday’s guilty verdict in the trial of former KPMG partner David Middendorf? Or maybe because we’ve known unofficially since December that Ucuzoglu was going […]
Report: Deloitte’s Head of Audit Is Frontrunner to Succeed Cathy Engelbert as CEO
It has now become apparent that Cathy Engelbert won’t be serving a second four-year term as CEO of Deloitte. Michael Rapoport of the Wall Street Journal reported on Dec. 15 that Joseph Ucuzoglu, chairman and CEO of Deloitte’s audit practice, Deloitte & Touche, was nominated by the firm’s board of directors to succeed Engelbert once […]
PCAOB Hands the Keys to Chief Auditor’s Office to Deloitte’s Megan Zietsman
The Public Company Accounting Oversight Board has been without a full-time chief auditor and director of professional standards since the end of May, when Martin Baumann resigned after spending nine years in that role and 12 years at the PCAOB. For the past six months, Deputy Chief Auditor Barbara Vanich has filled that position on […]
eBay’s Former Director of SEC Reporting (and Deloitte Alum) Charged With Insider Trading By SEC
A CPA who once was the director of Securities and Exchange Commission reporting for eBay Inc. was charged with insider trading by the SEC on Sept. 28 for allegedly using insider information ahead of a PayPal Holdings acquisition to make nearly $36,000 in illegal trading profits, according to documents released on Oct. 16. Bryan Long, […]
Deloitte Recycles Greg Weaver as Chairman and CEO of Its Audit Subsidiary
Deloitte is appointing a new Chairman and CEO of its audit subsidiary, Deloitte & Touche, and the new man in charge is actually an old man in charge – Greg Weaver. He led D&T from 2001 to 2005 and with this triumphant return to big chair, this basically making him the Grover Cleveland of the […]