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