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The world’s four largest accounting firms: Deloitte Touche Tohmatsu Limited (1849)

Deloitte Touche Tohmatsu Limited was founded in 1849 in London, England, headquartered in the United States, with 210,000 full-time employees (2014). It is the world’s largest international accounting and auditing professional service network, and is jointly called four by PricewaterhouseCoopers , Ernst & Young and KPMG Large international accounting firm. The Deloitte accounting firm joined in Taiwan is called Qinye Zhongxin Joint Accounting Firm, or Qinye Zhongxin for short. World’s top four accounting firms that are all private, non-listed companies .

Deloitte Touche Tohmatsu

Deloitte Touche Tohmatsu Limited information:

Deloitte (Deloitte) refers to Deloitte Touche Tohmatsu Limited (DTTL), an organization of limited guarantee companies organized under the laws of the United Kingdom. The origin of the name is the surnames of three accountants, namely William Wilch Deloitte and George Tucci , and the Tomatsu Aoki Audit Corporation, which was acquired in 1993 to expand the business in Japan.

At present, Deloitte represents an organization composed of numerous member firms/companies around the world. Relying on a global network of 150,000 professionals, Deloitte is a large-scale enterprise in the four areas of auditing, taxation, corporate management consulting, and financial consulting. Public institutions, etc. provide professional consulting and auditing services.

The main business of Deloitte Touche Tohmatsu Limited:

As a large independent auditor, Deloitte also owns many related businesses:

  • Audit (30%): Provide financial statement audit services. [1]
  • Professional consultants (33%): Provide and assist companies and enterprises in consulting and problem solving.
  • Financial planning (9%): Provide company and individual financial planning services and solutions.
  • Enterprise risk management (9%): Assist companies and individual enterprises in risk management consulting and provide solutions.
  • Tax planning (19%): Provide tax planning services and solutions for companies and individual enterprises.

Deloitte Touche Tohmatsu Limited Greater China business:

At present, Deloitte is one of the “Big Four Accounting Firms” network in the world, and its franchise offices in Greater China are legally independent entities.

  1. Mainland China- Deloitte Touche Tohmatsu CPA (Special General Partnership)
  2. Taiwan area-Qinye Zhongxin United Accounting Firm
  3. Hong Kong and Macau-Deloitte & Touche Tohmatsu Certified Public Accountants

Historical evolution of Greater China:

  • In 1917, Deloitte established the first foreign accounting firm with an office in China in Shanghai. With the support of a global network, Deloitte China provides comprehensive auditing, taxation, corporate management consulting and financial consulting services for domestic companies, multinational companies and high-growth companies.
  • In 1972, there were also offices in Hong Kong, which was the result of mergers and acquisitions.
  • In 1997, Deloitte Hong Kong merged with Hong Kong’s well-known Guan Huang Chen Fang Accounting Firm.
  • In 2003, Qinye Certified Public Accountants and Zhongxin United Certified Public Accountants in Taiwan were formally combined as “Qinye Zhongxin Certified Public Accountants” with the English name of Deloitte & Touche. They became a member of Deloitte Global in Taiwan to assist clients in providing global Customized services, such as going overseas to list or raise capital, investment, etc.
  • In 2004, Deloitte announced that it would invest 150 million US dollars to develop the Chinese market, and its business in China has recorded significant growth.
  • In 2005, Deloitte China merged with two local accounting firms in Mainland China (Beijing Tianjian and Shenzhen Tianjian Xinde) to serve China’s state-owned enterprises, financial institutions and local enterprises, with the intention of enhancing the large-scale services Deloitte serves through the merger. The market share of state-owned enterprises and financial institutions.
  • In June 2010, Deloitte announced the establishment of the International Tax Center (Asia Pacific), headquartered in Hong Kong, to provide tax solutions for Asia Pacific companies investing overseas and multinational companies investing in the Asia Pacific region.
  • At present, Deloitte is one of the leading professional service organization networks in Taiwan, China, Hong Kong and Macau. Its headquarter in China is located in the center of the Bund in Shanghai. There are more than 10,000 employees in China in Beijing, Dalian, Guangzhou, Hong Kong, Macau, Nanjing, Shanghai, Shenzhen, Suzhou, Tianjin, Hangzhou, Xiamen, Wuhan and Chongqing, Jinan, Harbin (newly opened in 2009) [8].
  • On June 21, 2016, Deloitte announced that it had acquired nearly all of the assets of Casey Quirk, the world’s largest asset management strategy consulting firm, but did not disclose details such as transaction pricing. Casey Quirk partners and the existing team will join the Deloitte brand Casey Quirk by Deloitte.

Deloitte official website : https://www.deloitte.com/

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