Tesco splits with auditor PwC after 32 years choosing Deloitte for turnaround May 11, 2015 Tesco has split with PwC, ending a 32-year relationship with the accounting firm following the worst year in the supermarket's near-century history. A Tesco spokesperson said: “We have issued an invitation to tender for the appointment of an auditor. Taking into account the term for which PWC has served as auditor, we have agreed with [...]
General Election 2015: Deloitte chief executive David Sproul wants a pro-business leader who will invest in infrastructure May 6, 2015 Election countdown: 1 day to go Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. David Sproul, senior partner and chief executive, Deloitte UK Business has led the recovery in recent years, but this cannot be [...]
Deloitte fine over MG Rover case reduced to £3m after appeal tribunal April 13, 2015 Deloitte has been fined £3m by a City watchdog over failures in the lead-up to the collapse of MG Rover a decade ago. The penalty is a significant reduction on an initial fine imposed last year, following an appeal by Deloitte and former partner at the firm Maghsoud Einollahi, the advisers who worked on MG Rover's sale [...]
Deloitte names Cathy Engelbert as first female chief executive February 9, 2015 Cathy Engelbert has been made the new chief executive of Deloitte LLP – Deloitte’s US branch. From 11 March, Engelbert will be the first female chief executive of a major US accounting firm, where she will take the helm for four years. She joined Deloitte LLP in 1986 and currently heads up the firm’s auditing division. She [...]
Deloitte’s bid to overturn MG Rover collapse tribunal findings succeeds January 30, 2015 Deloitte looks certain to reduce a record £14m fine after succeeding in its appeal to overturn several findings of a tribunal by the accounting watchdog over its role in the collapse of MG Rover. An independent tribunal for the Financial Reporting Council (FRC) today overturned eight of the 13 findings from the original tribunal which took [...]
Deloitte Money League: Premier League teams dominate football rich list January 21, 2015 Fresh evidence of English football’s financial supremacy has emerged after research found that all 20 Premier League teams have made it on to a new list of the world’s 40 richest clubs. Manchester United, Manchester City, Chelsea, Arsenal and Liverpool are all in the top 10 of Deloitte’s Football Money League, which ranks clubs by [...]
Deloitte Football Money League: Real Madrid stay top of rich list as English clubs’ influence increases January 21, 2015 Deloitte’s Dan Jones talks Frank Dalleres through the Football Money League. PREMIER LEAGUE SUPREMACY England’s top-flight teams have never been richer. More than £5bn worth of contracts with broadcasters kicked in last season, leading to record revenue for all 20 clubs and an unprecedented global financial dominance. Every single Premier League team makes it [...]
Deloitte: Facebook added $6.6bn to the UK economy in 2014 January 20, 2015 Facebook added $227bn (£149bn) to the global economy in 2014, according to a Deloitte and Touche report commissioned by the social media giant. Although Facebook only generated revenue of $12bn (£7.9bn) in the financial year, the report calculates all the economic activity “enabled” by the social media platform. These include businesses with pages [...]
Canadian pension fund Ivanhoe Cambridge buys Deloitte’s London HQ Stonecutter Court for £112m December 8, 2014 Canada's second-largest pension fund has bought Deloitte’s City offices from Hines Global Reit for £112m as it looks to step up its exposure to the London office property market. Ivanhoe Cambridge, the real estate arm of Canada’s Caisse de depot et placement du Quebec, said yesterday it has bought Stonecutter Court near Holborn. [...]
Deloitte probes Bank of England payments crash November 24, 2014 The Bank of England yesterday hired Deloitte to investigate the crash in its payments systems last month. On 20 October the, Real-Tim Gross Settlement (RTGS) system failed, causing faults in the Chaps payments channel, which is used for large-scale transactions. The system is largely used by companies and banks to transfer funds, but individuals also [...]