Deloitte is a global professional services firm that offers auditing, consulting, advisory, and tax services to companies in a variety of industries. Deloitte operates as a network of firms, with professionals located in more than 150 countries.
Deloitte is a part of the “Big Four” accountancy firms, alongside Klynveld Peat Marwick Goerdeler (KPMG), PricewaterhouseCoopers (PwC), and Ernst & Young (EY). Learn more about Deloitte and what the company offers its clients in this guide.
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What Is Deloitte?
Deloitte is a professional services network that focuses on auditing, consulting, advisory, and tax services. Over the years, the company has expanded into new service territory, now offering additional tech-focused services like AI support, cyber risk management, and cloud migration.
Deloitte: A brief history
Deloitte was founded by William W. Deloitte, an accountant who started his career in 1833. In 1845, Deloitte (the company) became official when Deloitte opened his first office in London. Soon after, in 1849, Deloitte became the first individual hired as an independent auditor.
This milestone led to continued growth for the organization, which experienced many mergers and acquisitions, as well as partnerships, over several decades. Deloitte has been known by many names over the years, including Deloitte Haskins & Sells and Deloitte & Touche. In 2003, the company rebranded as a single global brand: Deloitte.
What Does Deloitte Do as a Company?
According to Deloitte‘s About page, the company is focused on “delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society.”
Deloitte works to fulfill its mission by providing a wide range of services to companies across the globe, including 90% of the Fortune 500 and 7,000 private companies. The company serves its clients in the markets that “are most important to them,” from finance to technology.
What Industries Does Deloitte Work With?
Deloitte currently serves six distinct industries, each with its own subsets of focus areas:
- Consumer
- Energy, Resources & Industrials
- Financial Services
- Government & Public Services
- Life Sciences & Healthcare
- Technology, Media & Telecommunications
In the Consumer service area, Deloitte offers services to companies focused on retail and consumer products. In Financial Services, the company offers services to organizations focused on insurance and real estate. These are just a few examples of the markets Deloitte serves within the U.S. and internationally.
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What Services Does Deloitte Offer Its Customers?
While Deloitte’s core business model is built around tax support, business consulting, and auditing, the company has continued to evolve its offerings over time. Deloitte currently offers seven distinct services primarily for public companies and one specific offering for private companies:
Business consulting
Deloitte serves businesses by helping them solve complex organizational challenges. Through world-class business consulting, Deloitte enables businesses to improve the efficiency of their operations through technology and financial performance optimization.
In addition, the company offers customer and marketing support through Deloitte Digital, a creative digital consultancy firm. Additional service areas under the business consulting umbrella include enterprise technology and performance, human capital, and business strategy.
Technology consulting and support
Deloitte offers tech-based consulting and support to help its clients innovate. This service area focuses on AI, data analytics, and the cloud. For companies ready to harness the power of AI, Deloitte offers services such as AI strategy, data modernization, and managed analytics.
Deloitte’s cloud-specific offerings are robust and include support for cloud migration, analytics, business transformation, engineering, development, and strategic risk management. Companies that have not fully migrated to the cloud specifically benefit from Deloitte’s hybrid cloud options.
Tax
Deloitte is best known for its tax services, which include solutions for mobility and payroll, equity compensation, workforce analytics, and employment tax. Both private and public businesses can benefit from Deloitte’s comprehensive tax solutions.
Deloitte’s simple tax services include business and international tax, indirect tax, and tax management consulting. The company also offers more complex services, such as the implementation of tax-aligned enterprise resource planning (ERP) systems.
Auditing
Deloitte’s audit services provide companies with the assurance they need to scale. Deloitte currently offers two main audit types: independent financial statement audits and internal control audits.
To simplify the audit process while ensuring businesses meet the everchanging demands of disclosure, Deloitte utilizes its proprietary Omnia technology. Omnia is an AI-powered framework that works to uncover deeper business-specific insights while reducing the audit burden.
Mergers and acquisitions
Deloitte is an industry leader in merger and acquisition (M&A) services. Its Total M&A Solution provides tools and support for each step of the M&A lifecycle. This includes support for developing M&A strategy as well as due diligence, closing, and execution.
In addition to the Total M&A Solution, Deloitte offers post-merger integration services to support companies as they work to merge company processes, procedures, and people into one organization. Deloitte also offers services specifically for divestiture and separation.
Risk and financial advisory
Deloitte delivers world-class risk management services within a company’s accounting procedures, regulatory compliance, and transactions. Through these services, Deloitte supports companies in avoiding fraud, making smart business decisions, and responding to threats in real time.
Deloitte also offers specific risk management services to help companies enhance their cybersecurity, visibility, and privacy. These services ensure companies can continue moving toward digital transformation goals while still protecting their critical assets.
DEI
Deloitte utilizes its Equity Activation Model when supporting companies in building and maintaining diversity, equity, and inclusion (DEI) initiatives. This model defines three areas where organizations must make an impact: the workforce, the marketplace, and society.
Deloitte’s Equity Activation Model is best illustrated through the company’s DEI service offerings. These include their DEI assessment and strategy, equitable talent process design, inclusive product design and development, social impact measurement, and the ESG-specific materiality assessment.
Private company-specific services
While Deloitte serves thousands of companies within the Fortune 500, the company also offers services dedicated to private businesses, including auditing, tax consulting, and financial advisory services.
Through Deloitte Private, the company custom-tailors services to fit a private company’s needs, size, and unique structure.
