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Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is a British multinational professional services network. Deloitte is the largest professional services network by revenue and number of employees in the world and is considered one of the Big Four accounting firms, along with EY, KPMG, and PwC. The firm was founded by William Welch Deloitte in London, England in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in January 2013. The international firm is a UK private company, limited by guarantee, supported by a network of independent legal entities. Deloitte provides audit, consulting, financial advisory, risk advisory, tax, and legal services with approximately 457,000 employees globally, and operates in over 150 countries. In FY 2023, the network earned revenues of US$64.9 billion in aggregate. The firm has sponsored a number of activities and events including the 2012 Summer Olympics. There have been a number of controversies surrounding the firm. These include Deloitte's involvement in a "potentially misleading" report on illicit tobacco trading in Australia. The company suffered a major cyber-attack in September 2017, which caused a breach in client confidentiality and made public a significant amount of employee information. Deloitte has been subject to litigation in relation to several audits it was responsible for. It was the internal auditor of the insolvent contractor Carillion and it was the external auditor of Autonomy, when accusations were made relating to "accounting improprieties". This included an £8.8 billion 'write-down' in its value, following Autonomy's acquisition by Hewlett-Packard in 2011. History Early history In 1845, William Welch Deloitte opened an office in London, United Kingdom. Deloitte was the first person to be appointed an independent auditor of a public company, namely the Great Western Railway. He went on to open an office in New York in 1880. In 1890, Deloitte opened a branch office on Wall Street headed by Edward Adams and P.D. Griffiths as branch managers. That was Deloitte's first overseas venture. Other branches were soon opened in Chicago and Buenos Aires. In 1898 P.D. Griffiths returned from New York and became a partner in the London office. In 1896, Charles Waldo Haskins and Elijah Watt Sells formed Haskins & Sells in New York. It was later described as "the first major auditing firm to be established in the country by American rather than British accountants". In 1898, George Touche established an office in London and then, in 1900, joined John Ballantine Niven in establishing the firm of Touche Niven in the Johnston Building at 30 Broad Street in New York. On 1 March 1933, Colonel Arthur Hazelton Carter, President of the New York State Society of Certified Public Accountants and managing partner of Haskins & Sells, testified before the U.S. Senate Committee on Banking and Currency. Carter helped convince Congress that independent audits should be mandatory for public companies. In 1947, Detroit accountant George Bailey, then president of the American Institute of Certified Public Accountants, launched his own organization. The new entity enjoyed such a positive start that in less than a year, the partners merged with Touche Niven and A. R. Smart to form Touche, Niven, Bailey & Smart. Headed by Bailey, the organization grew rapidly, in part by creating a dedicated management consulting function. It also forged closer links with organizations established by the co-founder of Touche Niven, George Touche: the Canadian organization Ross and the British organization George A. Touche. In 1960, the firm was renamed Touche, Ross, Bailey & Smart, becoming Touche Ross in 1969. In 1968 Nobuzo Tohmatsu formed Tohmatsu Aoki & Co, a firm based in Japan that was to become part of the Touche Ross network in 1975. In 1972 Robert Trueblood, Chairman of Touche Ross, led the committee responsible for recommending the establishment of the Financial Accounting Standards Board. In 1972, Deloitte's firm (by then known as Deloitte, Plender, Griffiths & Co.) merged with Haskins & Sells to form Deloitte Haskins & Sells. In 1989, Deloitte Haskins & Sells merged with Touche Ross in the US to form Deloitte & Touche. The merged firm was led jointly by J. Michael Cook and Edward A. Kangas. Led by the UK partnership, a smaller number of Deloitte Haskins & Sells member firms rejected the merger with Touche Ross and shortly thereafter merged with Coopers & Lybrand to form Coopers & Lybrand Deloitte (later to merge with Price Waterhouse to become PwC). Some member firms of Touche Ross also rejected the merger with Deloitte Haskins & Sells and merged with other firms. In the UK, Touche Ross merged with Spicer & Oppenheim in 1990. Recent history At the time of the US-led mergers to form Deloitte & Touche, the name of the international firm was a problem, because there was no worldwide exclusive access to the names "Deloitte" or "Touche Ross" – key member firms such as Deloitte in the UK and Touche Ross in Australia had not joined the merger. The name DRT International was therefore chosen, referring to Deloitte, Ross and Tohmatsu. In 1993, the international firm was renamed Deloitte Touche Tohmatsu. In 1995, the partners of Deloitte & Touche decided to create Deloitte & Touche Consulting Group (now known as Deloitte Consulting). In 2000, Deloitte acquired Eclipse to add internet design to its consulting capabilities. Eclipse was later separated into Deloitte Online and Deloitte Digital. In 2002, Arthur Andersen's UK practice, the firm's largest practice outside the US, agreed to merge with Deloitte's UK practice. Andersen's practices in Spain, the Netherlands, Portugal, Belgium, Mexico, Brazil and Canada also agreed to merge with Deloitte. The spinoff of Deloitte France's consulting division led to the creation of Ineum Consulting. In 2005, Deloitte acquired Beijing Pan-China CPA to become the largest accountancy firm in China. Just prior to this acquisition Deloitte China had about 3,200 employees. This acquisition was part of a five-year plan to invest $150 million in China. Deloitte has had a presence in China since 1917. In 2007, Deloitte began hiring former employees of the Central Intelligence Agency (CIA) for their competitive intelligence unit known as Deloitte Intelligence. In 2009, Deloitte purchased the North American public service practice of BearingPo.... Discover the Nick Haskins popular books. Find the top 100 most popular Nick Haskins books.