A Swiss Verein in Asia
Deloitte Touche Tohmatsu (Deloitte) is a Swiss Verein
(association) with subsidiaries around the world. The member firms
are legally independent of one another, but they operate under
related names including "Deloitte," "Deloitte & Touche," and
"Tohmatsu." The company offers services in four professional areas:
audit, tax, consulting, and financial advisory services.
Deloitte has risen to become the top revenue-generating Big Four
accounting firm. The firm executes a global strategy through local
offices in almost 150 countries. In FY2006, the Asia Pacific/Japan
region contributed 11 percent of total revenue at the company.
Revenue for the region grew by 17.2 percent to $2.5 billion.
Deloitte's China practice, which had 48 percent growth in FY2007,
led revenue growth in the region.
In 2006, an International Tax Review survey named Deloitte the
best global tax services brand. International Tax Review also gave
Deloitte awards for transfer pricing firm of the year in Taiwan and
Thailand, tax controversy firm of the year in China and tax firm of
the year in New Zealand.
Back to Billy D.
The organization traces its roots back to 1845, when William
Welch Deloitte, the grandson of a French count who fled a likely
date with the guillotine during the French Revolution, opened an
office in London at the age of 25. He first opened for business in
the U.S. in 1893. Deloitte's firm merged with Haskins & Sells,
a New York-based firm that opened in March 1895. Founders Charles
Waldo Haskins and Elijah Watt Sells had met two years earlier when
they were tapped by a Congressional commission to investigate
operating methods of the executive departments in Washington, D.C.
George Touch, who later added the "e" to help avoid
mispronunciation of his Scottish name, set up shop in 1883. His
firm first opened in the U.S. in 1900. Touche Ross (as it became
known) merged with Deloitte, Haskins & Sells in December 1989,
creating the Big Four behemoth of today. In 1995, management voted
to create Deloitte Consulting. Deloitte's mission is to "simplify
work so that it can be done more rapidly and more effectively.