Deloitte News

Deloitte Sued for Allegedly Failing to Find ‘Irregularities’ in Audits of Singapore Oil Trader

A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade. Deloitte audited the …

Ex-Deloitte Auditor Faces Disciplinary Action for Improper Audit of S. Africa’s Steinhoff

An ex-Deloitte LLP partner is facing disciplinary action in the Netherlands for an improper audit of Steinhoff International Holdings NV prior to the South African retailer’s near collapse more than three years ago. The Dutch Authority for the Financial Markets …

Confidence Among UK CFOs Hits Record High, Helped by Vaccinations, Brexit Hopes

Confidence among big businesses in Britain about their profits in the year ahead has hit a record high, helped by the country’s coronavirus vaccinations and hopes for less Brexit disruption, a survey of chief finance officers showed. After the biggest …

Britain Targets Big 4 Auditors, Company Directors With Reform Proposals

Britain proposed weakening the market grip of “Big Four” auditors on Thursday and making company directors responsible for spotting fraud after the collapses of retailer BHS and builder Carillion. Directors would have to repay their bonuses if the company went …

Google Hires Deloitte’s Walsh to Lead North American Insurance Business

Google has hired former Deloitte Digital partner Nigel Walsh to lead its insurance business in North America. Walsh disclosed the news on Twitter and LinkedIn. He noted on LinkedIn that he’ll be part of a team led by Yolande Piazza, …

UK Company Directors Could Become Personally Liable for Financial Statements

LONDON – Company directors would become personally liable for the accuracy of their financial statements under landmark proposals from Britain’s finance ministry next week to improve corporate behavior, sources familiar with the plans said on Friday. Directors would have to …

Pandemic Amplified Security Gaps for Public Sector Cyber Officials

While the pandemic has highlighted the resilience of public sector cyber officials, it has also called attention to chronic challenges facing state information technology organizations including securing adequate budgets and talent, and coordinating security steps across agencies, a new report …

The New Digital Normal and the Future of Work in Reinsurance

It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful scramble to conduct its business digitally at the onset of the COVID-19 crisis. This digital transformation is creating a new …

Pandemic Economic Uncertainty Could See Insurers Buying, Partnering with Insurtechs

Insurance carriers could increasingly target insurtechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, according to a report. “As insurers move toward late 2020 and into 2021, we believe there may be an increase in …

Wirecard Hires Forensic Investigator, Say Sources. Findings Could Aid in D&O Litigation.

German payments company Wirecard has hired Alix Partners for a forensic investigation of the accounting scandal that led to its collapse, people close to the matter said. The blue-chip company filed for insolvency last month, owing creditors almost $4 billion …