Deloitte US

Deloitte US
Name	Deloitte US
Foundation	0 1845 (as Deloitte)
Location	New York City, New York, U.S.
Key people	Jason Girzadas (CEO)
Industry	Professional services
Revenue	$31.3 billion (US firms, FY 2024)
Homepage	www2.deloitte.com/us/en.html

Deloitte US refers to the American member firms of the global Deloitte network, one of the "Big Four" professional services organizations. Headquartered in New York City, it operates as a critical component of Deloitte Touche Tohmatsu Limited (DTTL), providing a comprehensive suite of audit, consulting, tax, and advisory services to a vast array of clients across the United States. With a history tracing back to the 19th century, it has grown into one of the nation's largest private professional services firms, employing tens of thousands of professionals and serving many Fortune 500 companies, government agencies, and emerging growth enterprises.

History

The origins of the firm in the United States are deeply intertwined with the expansion of the original British partnership founded by William Welch Deloitte. The American practice began to take significant shape in the early 20th century, with key mergers solidifying its presence, most notably the 1989 combination of Deloitte Haskins & Sells and Touche Ross in the U.S. to form Deloitte & Touche. This merger occurred during a period of significant consolidation within the accounting profession, partly in response to the savings and loan crisis and evolving market demands. Further integration with the global network led to the adoption of the single "Deloitte" brand in the early 2000s. Throughout its development, the firm has navigated major regulatory shifts, including the landmark Sarbanes–Oxley Act passed in the wake of the Enron scandal, which profoundly impacted audit practices for all major firms.

Services

The firm delivers its offerings through several primary functional divisions. Its Audit & Assurance practice provides financial statement audits, internal control assessments, and other attestation services for public and private entities, adhering to standards set by the Public Company Accounting Oversight Board (PCAOB). The Consulting practice, one of the world's largest, assists clients with technology implementation, such as SAP and Salesforce, digital transformation, cybersecurity, and complex mergers and acquisitions integration. The Tax practice offers guidance on domestic and international tax strategy, compliance, and controversy services, often dealing with regulations from the Internal Revenue Service. Additionally, the Risk & Financial Advisory and Advisory practices help organizations manage operational, financial, and regulatory risks, including areas like forensic accounting and climate change sustainability reporting.

Organization and leadership

Deloitte US is structured as a private company comprising multiple legally independent member firms under the DTTL umbrella, including Deloitte & Touche LLP for audit and assurance and Deloitte Consulting LLP for consulting services. The organization is led by a Chief Executive Officer, with Jason Girzadas assuming the role in 2023, succeeding former CEO Joe Ucuzoglu. Governance includes a Board of Directors and various leadership committees overseeing strategy, risk, and ethics. The firm operates across all 50 states, with major hubs in cities like New York City, Chicago, San Francisco, and Atlanta, and maintains a significant federal practice in Washington, D.C., often working with agencies like the Securities and Exchange Commission and the Department of Defense.

Culture and workplace

The firm emphasizes a culture of professional development, innovation, and inclusion, frequently appearing on lists such as Fortune's 100 Best Companies to Work For. It runs extensive campus recruitment programs at universities like the University of Texas at Austin and the University of Illinois Urbana-Champaign. Initiatives like Deloitte University, its leadership center in Westlake, Texas, and its Flexibility at Deloitte program aim to support employee growth and work-life integration. The firm has also been recognized for its efforts in diversity, equity, and inclusion, with specific programs supporting groups like the Hispanic Alliance and Women at Deloitte, and has made public commitments to environmental sustainability through its WorldClimate initiative.

Notable alumni

Many individuals who began their careers at the firm have achieved prominence in business and public service. In the corporate sphere, alumni include former Morgan Stanley CEO James P. Gorman and former Verizon CEO Ivan Seidenberg. In government and regulation, notable figures include former U.S. Securities and Exchange Commission Chairman Harvey Pitt and former White House Chief of Staff under President Bill Clinton, Thomas F. McLarty III. The firm's consulting practice has also produced numerous entrepreneurs and technology executives who have led major initiatives at companies like Amazon and Microsoft.

Criticism and controversies

Like other major accounting firms, it has faced scrutiny and legal challenges over its professional work. This has included settlements related to audit failures, such as its role as auditor for companies involved in significant frauds, which sometimes led to investigations by the PCAOB or the SEC. The firm has also been criticized for potential conflicts of interest between its audit and consulting divisions, a longstanding industry debate that intensified after the collapse of Arthur Andersen. More recently, it has navigated complex issues related to its advisory work with government entities, such as contracts with the Centers for Medicare & Medicaid Services, and has faced questions about the ethical implications of its work with certain clients in industries like fossil fuels.

Category:Big Four accounting firms Category:Professional services firms of the United States Category:Companies based in New York City Category:1845 establishments in the United Kingdom