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Deloitte

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Deloitte Modernizes US Roles With New Job Titles and a Leader Tier
business1 month ago

Deloitte Modernizes US Roles With New Job Titles and a Leader Tier

Deloitte will overhaul its US workforce titles, adding a new 'leaders' leadership tier and more granular 'job family' and 'sub-family' designations. Employees will learn their new titles on Jan 29, with changes taking effect June 1, 2026; internally, roles will receive alphanumeric levels (e.g., L45, L55). The overhaul aims to modernize the talent architecture to better reflect skills and provide clearer career paths, while day-to-day work and compensation philosophy remain unchanged and the changes apply across all US divisions.

via Business Insider|
#ai-impact-on-consulting#business#deloitte
Microsoft Tools' Fragmentation Hampers Efficiency at Amazon and Whole Foods, Deloitte Finds
business2 months ago

Microsoft Tools' Fragmentation Hampers Efficiency at Amazon and Whole Foods, Deloitte Finds

Deloitte's review revealed that Amazon and Whole Foods face challenges in integrating their Microsoft tools, leading to inefficiencies. A phased plan is proposed to migrate Whole Foods' staff to Amazon's backend, aiming to improve collaboration, security, and cost savings, amidst ongoing efforts to better align the two companies' operations.

via Business Insider|
#amazon#business#deloitte
business4 months ago

Deloitte to Refund Australian Government and Expand AI Services with Anthropic Deal

Deloitte Australia will partially refund the Australian government after a report containing AI-generated errors, including fabricated quotes and nonexistent references, was published. The report, which used AI language technology, was revised to remove false information, and Deloitte agreed to repay the final installment of the contract. The incident highlights concerns over AI hallucinations and the misuse of generative AI in official reports.

via ABC News - Breaking News, Latest News and Videos|
#ai-errors#australia#business
"Accenture's Earnings Outlook Cut Sparks Sharp Decline in Indian IT Stocks"
business1 year ago

"Accenture's Earnings Outlook Cut Sparks Sharp Decline in Indian IT Stocks"

Accenture has revised its revenue forecast for 2024 downwards due to clients cutting back on spending, with consulting revenue for the second fiscal quarter falling about 3% compared to 2023. Major consulting firms are facing waning demand from clients, leading to reorganizations and delayed start dates for new hires. However, the promise of AI is providing a bright spot, with firms seeing significant revenue related to generative AI and a growing demand for understanding and implementing the new technology.

via Business Insider|
#accenture#ai#business
"Rising Streaming Costs Squeeze U.S. Consumers: Study"
entertainment1 year ago

"Rising Streaming Costs Squeeze U.S. Consumers: Study"

According to Deloitte's 18th annual Digital Media Trends report, U.S. households spend an average of $61 per month on four streaming video services, up 27% from last year. The survey indicates that consumers are questioning the value of their subscriptions, with 36% feeling the content is not worth the price. Additionally, 48% would consider canceling their favorite service if prices increased by $5 per month. The report also highlights the desire for personalized experiences and easier content discovery, as well as the influence of social media on entertainment consumption and the importance of diversity in creative teams.

via Variety|
#consumer-behavior#deloitte#digital-media-trends
"Deloitte's Oversight Failure: Uncovering a Billion-Dollar Nigerian Fraud"
business2 years ago

"Deloitte's Oversight Failure: Uncovering a Billion-Dollar Nigerian Fraud"

Deloitte, the auditing firm, certified that Nigerian company Tingo Group had $462 million in the bank, but the SEC found it was only $50, leading to charges of "massive fraud." This case highlights the recurring issue of auditors failing to detect fraud, with only 4% of frauds being uncovered by auditors. The setup where auditors are paid by the companies they examine can lead to playing it safe and avoiding hard-hitting questions. The discrepancy in Tingo's case raises questions about Deloitte's oversight, especially as the auditing was done by Deloitte's Israeli branch, not in Nigeria where Tingo operated. This failure could have repercussions for Deloitte's other client companies in the stock market.

via Forbes|
#auditing#business#deloitte
Deloitte Harnesses AI to Prevent Mass Layoffs
business2 years ago

Deloitte Harnesses AI to Prevent Mass Layoffs

Deloitte is using AI technology to assess the skills of its current employees and potentially shift them into more promising areas of the business, in an effort to avoid mass layoffs and balance new hiring growth. The firm is betting that AI will not only help retain employees but also increase productivity and profitability. Deloitte's move comes after a surge in new hires, while revenue growth has not kept pace. Other consulting firms are also grappling with how to manage their workforce amid an uncertain economy.

via Business Insider|
#ai#business#consulting-firms
Adani Group Stocks Plunge as Auditor Resigns Amid Hindenburg Report
business2 years ago

Adani Group Stocks Plunge as Auditor Resigns Amid Hindenburg Report

Shares of Adani Group companies dropped between 3% and 6% after Deloitte resigned as the auditor of Adani Ports, the first such move since the release of the Hindenburg report in January. Deloitte quit due to concerns over related party transactions that the company did not wish to investigate independently. The report by Hindenburg alleged improper use of tax havens and other business dealings, leading to significant market value losses and regulatory investigations. Adani Ports named MSKA & Associates as its new auditor.

via Reuters India|
#adani-group#auditor-resignation#business
Deloitte's Resignation as Adani Ports Auditor Raises Questions
business2 years ago

Deloitte's Resignation as Adani Ports Auditor Raises Questions

Deloitte Haskins & Sells has resigned as the statutory auditor of Adani Ports & Special Economic Zone amid concerns over certain transactions, including one with an EPC contractor named in the Hindenburg report. Deloitte issued a "qualified opinion" on Adani Ports' FY23 results due to the company's refusal to conduct an independent external examination. Adani Ports has replaced Deloitte with MSKA & Associates as its new auditor. The resignation has raised fresh scrutiny of the accounting practices at the Adani Group, which had previously replaced Deloitte as the auditor of its UK subsidiaries.

via IndiaTimes|
#accounting-practices#adani-ports#auditor-resignation
Deloitte Resigns as Adani Ports' Auditor Amidst Concerns and Differences
business2 years ago

Deloitte Resigns as Adani Ports' Auditor Amidst Concerns and Differences

Deloitte has decided to resign as the auditor of Adani Ports due to concerns over certain transactions flagged in a report by Hindenburg. Deloitte had previously pointed out these transactions in its report and gave a qualified opinion. The move raises questions about the financial management of the Adani Group, which has faced allegations of improper use of tax havens and convoluted related party transactions. Deloitte had asked Adani Ports to conduct an independent inquiry into the flagged transactions, but the company did not agree. Adani Group's stocks lost significant market value following the report but have since recovered.

via Reuters India|
#adani-ports#auditor-resignation#business
Back-to-school spending sees first decline in 9 years due to inflation
economy2 years ago

Back-to-school spending sees first decline in 9 years due to inflation

Back-to-school shopping is expected to decrease for the first time in nine years, with overall spending projected to shrink to $31.2 billion compared to $34.4 billion in 2022. The decline is attributed to persistent inflation, causing Americans to prioritize essential purchases and cut back on non-essential items. Parents and guardians are expected to spend an average of $597, 10% less than last year. Spending on school supplies is expected to increase by 20%, while spending on apparel and technology is set to fall by 14% and 13% respectively. Shoppers are relying on sales to offset increased costs, with nearly 60% of back-to-school purchases planned to be completed by the end of July.

via Fox Business|
#back-to-school-shopping#consumer-spending#deloitte