...The major problem in the Deloitte & Touche Consulting Group case was the lack of support that Maria Chen had during the first few weeks of the engagement at SKS Manufacturing. The cause of the problem with the engagement at SKS Manufacturing was multi-pronged. Maria Chen could have very easily become the sole scapegoat for blame. However, upon analyzing the underlying causes, Maria lacked 100% support from the two most senior members of the engagement team. First, David Hendry, Partner had just accepted additional responsibilities of bringing in new business. This meant that he would have competing demands with a less proactive focus and attention to SKS Manufacturing as a client during the initial engagement. Secondly, Annette Wattley-Davis, Senior Manager, assigned to the SKS Manufacturing engagement was working on another concurrent project in Dallas. She was in Texas for 2-3 days per week overseeing a project with another client with limited oversight to the SKS engagement during a lucrative period (first six weeks) of the engagement. Thirdly, Maria Chen was a fairly new consultant and inexperienced to lead a vague and difficult situation on her own. Her lack of experience coupled with the lack of support from David Hendry and Annette Wattley-Davis was detrimental and derailing. She was assigned specifically to lead and address the production scheduling processes and synchronize production operations with purchasing while working along side Ben Rohan. He was tasked...
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...Checkpoint: Deloitte & Touche A Case Study HRM/240 November 30, 2011 Checkpoint: Deloitte Touche Case Study 1. How did the problems at Deloitte & Touche occur in the first place? The problems at Deloitte & Touche first occurred when women who should have been considered for partnership instead of advancing forward moved off the work scene for several reasons. There were at least 80 percent of the women, although qualified resigned before ever becoming a partner because she believed there was neither an opportunity for advancement for a woman in a male dominated company, nor was she included in a mentoring and networking program that rarely was beneficial for them anyway. The women also thought that work and concerns in dealing with family matters proved to be problematic. According to Molina (2005), “The long hours and heavy travel schedules for some made juggling work and home life next to impossible” (p.1). 2. Did their changes fix the underlying problems? Explain. The changes made created a huge difference in the way the women of this company were treated and the way they perceived it to be. According to Trimberger (1998), “Deloitte & Touche has worked at changing its culture since launching the program in 1993; however, not all of the desired changes have been made, nor all of the...
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...Corporate Governance Services Antifraud Programs and Controls A vital component of corporate governance Background High-profile financial reporting scandals in recent years have brought renewed focus on the incidence and corporate-wide exposure to financial statement fraud. These developments have resulted in comprehensive legislation and Securities and Exchange Commission (SEC) rulemaking concerning corporate governance and internal controls. Among the regulations is the Sarbanes-Oxley Act of 2002 which mandates that company management must file an annual report of the adequacy of internal controls related to its financial reporting. Controls related to the prevention and detection of fraud are an integral part of a company’s system of internal control. Deficiencies in antifraud programs and controls are serious. Such weaknesses could constitute significant deficiencies or material weaknesses in internal control over financial reporting. This may require public reporting and possibly may result in adverse consequences. Conversely, U.S. Federal Organizational Sentencing Guidelines indicate that having proper ethics and compliance programs and effective internal controls in place can mitigate the ultimate punishment of an organization, should a company be found guilty of committing a fraud in violation of federal and state laws. In addition to the legislative and regulatory requirements for antifraud programs, there are sound business reasons to implement them. The impact from...
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...transformation in financial institutions,1 when these cornerstone frameworks and capabilities are in place, risk management, risk governance, and regulatory compliance can be implemented in a more aligned and integrated manner. Figure 1: The cornerstones of risk transformation What vision drives the Organization? Business Model Operating Model culture What oversight ensures the strategy is executed? Governance Strategy What shared values guide the organization? Data Analytics and Technology What data, analytics and technology infrastructure enables execution? 1 How should execution be structured? Aligning risk and the pursuit of shareholder value: Risk transformation in financial institutions, 2013, Deloitte Implementing risk transformation in financial...
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...Corporate Governance Services Suggested Guidelines for Writing a Code of Ethics/Conduct Writing a Code of Ethics/Conduct Companies that follow both the letter and the spirit of the law by taking a “value-based” approach to ethics and compliance may have a distinct advantage in the marketplace. Give the average employee a legalistic “thou shall not….” code, and a negative response is almost guaranteed. Give employees a document that states clearly and concisely the company’s expectations, outlines acceptable behaviors, and presents viable options for asking questions and voicing concerns, and the likelihood is much greater that they will meet those expectations and exhibit the desired behaviors. Make the contents of the code equally applicable to everyone in the organization—at all levels—and you have a key ingredient for a code that becomes cultural, with all of the benefits. Code Basics There is no standard wording for a code of ethics/conduct. Each organization should develop one to suit the needs of its personnel in defining expected behaviors and in addressing the risks, challenges, and customs in the countries in which it operates, as well as to fit their specific industry and situation. However, there are some basic points to keep in mind when creating or modifying a code. • The code language should be simple, concise, and readily understood by all employees. • The code should not be legalistic—written as “thou shall not”— but rather state expected behaviors. •...
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...Global Human Capital Trends 2014 Engaging the 21st-century workforce A report by Deloitte Consulting LLP and Bersin by Deloitte Contents Introduction | 2 | 7 Global Human Capital Trends 2014 survey: Top 10 findings Lead and develop Leaders at all levels | 25 | 35 | | 45 55 Corporate learning redefined Performance management is broken The quest for workforce capability Attract and engage Talent acquisition revisited Beyond retention | 75 | | 87 97 | 65 From diversity to inclusion The overwhelmed employee Transform and reinvent The reskilled HR team | 107 | 117 Talent analytics in practice Race to the cloud | 127 The global and local HR function Editors | 145 | 146 | | 137 Acknowledgements Global Human Capital leaders Human Capital country leaders 147 | 148 Global Human Capital Trends 2014: Engaging the 21st-century workforce Introduction Engaging the 21st-century workforce S we begin 2014, global organizations have left the recession in the rear-view mirror and are positioning themselves aggressively for growth. Sluggishness has given way to expansion. Retrenchment has been replaced by investment. The need for caution has been superseded by the need to take action. Yet as the economic recovery takes hold, businesses realize that the workforce today has changed. Skills are scarce, workers have high expectations, and Millennials are now in charge. Enter the 21st-century workforce. The 21st-century workforce is global, highly...
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...Getting the retained organization right: The other half of the shared services battle 2 Transforming the service delivery model for back-office functions such as finance, procurement, human resources (HR), real estate, and information technology (IT) continues to be a top priority for many companies. Such efforts usually aim to achieve several interrelated goals: to increase the function’s strategic contribution to the business, to improve operational efficiency and reduce cost, and to drive global data and process consistency. One widespread strategy for pursuing these goals is to establish a shared services organization (SSO) to execute back-office functional processes on behalf of multiple operating units. However, our experience shows that such efforts often fail to yield their intended benefits. Why? One important reason, in our view, is that many companies tend to focus almost exclusively on the processes to be moved into the SSO while paying little attention to the retained organization’s design and operation. We have seen many companies underestimate both the level of effort to get the retained organization “right” and the extent to which failure to do so may diminish the value of the shared services program. On the other hand, companies that do make the necessary investment in their retained organizations have a greater chance of reaping satisfactory returns on their shared services investment. Figure 1: Characteristics of the four types of functional activities...
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...Deloitte and Touche | Final Paper | | HR582 Managing Global Diversity | | Owner | 10/21/2010 | | Deloitte Diversity Audit Organizational Background: Deloitte is a staple in the financial accounting industry for over 100 years. In this time frame they have continued to revamp themselves to still remain relevant not only for their trade of accounting but developing its primary asset, their employees. Deloitte help set the standard after the crash with audits and regulations that led to more thorough accounting practices. Recognition for women and minorities is a huge initiative that has been driving a lot of their success into the 21st century. The investment in information technology would pay dividends to back up, store, and process electronic accounting data for Deloitte. The merger of the big 4 completion in 2002 the financial accounting industry will never be the same. PricewaterhouseCooper, Ernest & Young, KPMG, and Deloitte round out the big 4 audit firms. Deloitte is currently the largest of the big four by a narrow margin. All of the big four are among the top places to work (2009) nationally and in their respective headquarter locations. Since the 2000’s Deloitte has become an industry leader and model organization. The focus on recruiting the right talent to continue pushing the bar has been successful for Deloitte. Deloitte is striving to separate themselves from the big four and set the trends for the accounting industry. Criteria/...
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...Intern-S15HEINTNG-IIMUDescriptionAbout Deloitte “Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTTL and each DTTL member firm is a separate and distinct legal entity. Each DTTL member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors and may secure the provision of professional services in their territories through subsidiaries, affiliates, and/or other entities. In the United States, Deloitte LLP is the member firm of DTTL. Services are primarily provided by the subsidiaries of Deloitte LLP, including:• Deloitte & Touche LLP• Deloitte Consulting LLP• Deloitte Financial Advisory Services LLP• Deloitte Tax LLP In India, Deloitte LLP has the following indirect subsidiaries: Deloitte & Touche Assurance & Enterprise Risk Services India Private Limited, Deloitte Consulting India Private Limited, Deloitte Financial Advisory Services India Private Limited, Deloitte Tax Services India Private Limited, and Deloitte Support Services India Private...
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...Managing the Talent Crisis in Global Manufacturing Strategies to Attract and Engage Generation Y A Deloitte Research Global Manufacturing Study Table of Contents Introduction................................................................................... 1 The Talent Paradox in Global Manufacturing: Survival of the Skilled................................................................... 2 The Depleting Talent Pipeline in Global Manufacturing ............ 3 The Challenge and Opportunity of Talent Mangement in Emerging Markets......................................................................... 5 China: Plenty of oysters, few pearls ............................................. 5 Southeast Asia: Dangers of a short-term view ............................. 6 India: Fighting off the competition .............................................. 6 Latin America: Middle management blues, technical skills shortage .............................................................. 7 Eastern Europe: The perils of accelerating wages ........................ 7 Connecting to Generation Y ........................................................ 8 Characteristics of Generation Y ................................................... 8 New strategies aligning with the needs of Generation Y ............. 9 Shortcomings of current approaches to managing talent ......... 10 The Develop-Deploy-Connect talent management model .......... 11 What Does the Develop-Deploy-Connect Model Mean for...
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...EXECUTIVE SUMMARY This report is prepared to gain insights on the reasons for the collapse of Hastie Group Limited which is known as the top international designer, maintainer and installer of technical services to the infrastructure and building sector. Hastie has well established operations in Australia, the United Kingdom and the Middle East. The report begins with the introduction about the company and how and when it collapsed. The report further includes the major points extracted from the report issued by PPB Advisory, the administrators of Hastie Group. The major content of this report is focused towards the Auditing Issues within the Hastie Group that contributed towards its collapse. The Hastie group was audited by the Deloitte Touche Tohmatsu in 2011. The auditing issues mainly cover Auditor’s Breaches of duty and the potential claim against the auditors. Overall this report would help provide a better picture of the collapse of Hastie Group and the course of action followed. INTRODUCTION Hastie Group Ltd. is known as the top international designer, maintainer and installer of technical services to the building and infrastructure sector. Hastie Group has well established in Australia, the United Kingdom and the Middle East. In 1970, the Australian subsidiary of Hastie Group was formed in Sydney. The business quickly expanded into Perth and won prestigious contracts such as the Darling Harbour Exhibition Centre, Sydney Futures Exchange, Hyatt Hotel Canberra...
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...Levendary Café: China Challenge Levendary Café faced some successes and many challenges when penetrating the Chinese Market for their first time. The goal of this case study is to understand what kind of initial strategies did they adopted and the main problems that arouse as a result of their decisions. The analysis will point out the main issues faced by the organization as well as potential alternatives that could be used to address their concerns. Finally, an optimal solution will be proposed in order to resolve the situation in which Levendary Café is involved. Levendary’s first steps and industry analysis Although Levendary Café’s decision of entering Chinese market faced some tough challenges, the organization also took some good steps. First of all, the decision of entering China as the target market was a good decision. According to a report by IBIS World, “this industry revenue grew by 3.4% to $190.2 billion in 2011 and 2.6% to $195.2 billion in 2012. Industry revenue growth will level off as growth rates approach historical levels and the industry is forced to contend with the market saturation issues it has grappled with over the last 10 years.” (Zwolak, April 2010). Since the American market was already saturated, Chinese market offered an attractive alternative of expansion for Levendary Cafe. China was a market of 1.4 billion people where economic growth was around 14.5% and where growing middle-class citizens, who demonstrated a positive acceptance of quick...
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...S12OMAAI13JAN-AU Type of Position: Full-time Job Description Apply Online Deloitte & Touche LLP's ("Deloitte & Touche's") Audit and Enterprise Risk Services business has a risk-based approach, experienced professionals, comprehensive methodologies, and technical resources. Deloitte & Touche's services combine competency and experience in the areas of financial reporting, risk management, and compliance. The external audit services include: • Audits of Financial Statements, including reviews of quarterly financial information • Audits of internal control over financial reporting including Sarbanes-Oxley Section 404 • Agreed Upon Procedure • Other attest related services In conducting an external audit of clients' financial statements, Deloitte & Touche holds itself to the standards of independence, professional objectivity, and technical excellence. The audit approach is designed to provide the flexibility to serve the unique circumstances and complexities of clients. The Deloitte & Touche approach is to understand a client's business, the risks it faces, its internal controls, and assess the risk of material misstatement of the financials in order to design effective audit procedures. For public companies subject to the internal control reporting requirements of the Sarbanes-Oxley Act, Deloitte & Touche integrates the audit of internal control over financial reporting with the audit of the financial statements. Deloitte & Touche's professionals bring a comprehensive methodology that...
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...The major problem in the Deloitte & Touche Consulting Group case was the lack of support that Maria Chen had during the first few weeks of the engagement at SKS Manufacturing. The cause of the problem with the engagement at SKS Manufacturing was multi-pronged. Maria Chen could have very easily become the sole scapegoat for blame. However, upon analyzing the underlying causes, Maria lacked 100% support from the two most senior members of the engagement team. First, David Hendry, Partner had just accepted additional responsibilities of bringing in new business. This meant that he would have competing demands with a less proactive focus and attention to SKS Manufacturing as a client during the initial engagement. Secondly, Annette Wattley-Davis, Senior Manager, assigned to the SKS Manufacturing engagement was working on another concurrent project in Dallas. She was in Texas for 2-3 days per week overseeing a project with another client with limited oversight to the SKS engagement during a lucrative period (first six weeks) of the engagement. Thirdly, Maria Chen was a fairly new consultant and inexperienced to lead a vague and difficult situation on her own. Her lack of experience coupled with the lack of support from David Hendry and Annette Wattley-Davis was detrimental and derailing. She was assigned specifically to lead and address the production scheduling processes and synchronize production operations with purchasing while working along side Ben Rohan. He was tasked...
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...Financial Accounting Theory | Office: 328 Rich Hall | Spring 2016 | Phone: 3123561 | | E-mail: dean.crawford@oswego.edu | Course Syllabus This course provides students with experience in researching a set of financial accounting issues, developing conclusions based on that research, and communicating those conclusions to interested parties. In the process, students will update their financial accounting skills and gain a familiarity with current events in public accounting. Required Course Materials We will make extensive use of the FASB codification located at https://aaahq.org/FASB/Access.cfm. To log in, use the username AAA51049 and the password Y9J9wvN. We will also use the Trueblood case studies provided by Deloitte and Touche. Office Hours Office hours are MW 2:30 am – 4:30 pm, TR 11:30 – 12:30 pm, and by appointment. Grades The grade will be based on an accounting research presentation and two written research projects. Groups of up to four are allowed for these projects. Course Schedule The course is divided roughly into thirds. In the first part, we will work through the FASB Codification Learning Guide available at the online FASB codification site. In the second part, I will use the codification to analyze selected accounting cases and issues. The third part is reserved for presentations by the student groups. If you have a disabling condition that might interfere with your ability to complete this course successfully, please...
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