Two Wildly Different Stories About Deloitte: Or Are They?

Two Wildly Different Stories About Deloitte: Or Are They?

In the last few weeks, I've written two very different stories about Deloitte:

One, published as media criticism by the Columbia Journalism Review, skewers new Deloitte Global CEO Barry Salzberg - and The New York Times - for misdirecting readers from real world issues with a puff piece.

The other calls a recent lawsuit against Deloitte by truck-maker and defense contractor Navistar, "proof there's no statute of limitations against idiocy."

It may surprise you to see me defending Deloitte, if you can call it that, in a case with enough worms to feed the three baby birds nesting in the eaves of my front porch for the duration of the summer. And I hate to have to criticize the New York Times, a place where so many have been so kind to me and where I recently invested in a 7-day a week print subscription for my parents' 50th wedding anniversary.

But both stories stuck in my craw and, well, one must call them as one sees them.

If you searched the comments of this blog, you'd find lots of negative comments about Deloitte and about Barry Salzberg as Deloitte US CEO. They were especially numerous during the period early 2008 to late 2009 when Deloitte was cutting staff and partners left and right in response to the economic conditions pre- and post- September 2008 when Deloitte lost more clients to bank failure and acquisition than any other Big 4.

And yet, Salzberg prevailed. As did his colleague in the UK, Steve Almond, the former lead auditor of failed nationalized client Royal Bank of Scotland (RBS). Almond was recently named Chairman of the Deloitte Touche Tohmatsu Board of Partners. In the UK, investors, and taxpayers who bailed out RBS, are understandably upset.

Read this article in its entirety at the re: The Auditors, a blog by Francine McKenna.

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