Joe Echevarria, the new CEO of Deloitte LLP, told Accounting Today that he plans to expand the accounting firm during his tenure.
“When we talk about expansion plans, on the audit side, we want to lead the profession,” he said. “That’s essentially what we’re trying to achieve: leadership.” Among the areas where he plans to expand the firm are in learning development, starting with the firm’s recently completed $300 million Deloitte University facility.
Echevarria also discussed several of the issues facing the profession, including the Public Company Accounting Oversight Board’s proposals for mandatory auditor rotation and its increased inspections of firms around the world. Echevarria was asked about the PCAOB’s demands for inspections of firms and their audit work papers in China and other countries.
“I think the issue comes down to balancing the views of a country regulator with another country,” he said. “I think from our standpoint, from the profession’s standpoint, I think we would advocate transparency, as long as it’s not violating any of the particular country’s rules or laws. And I think that regulators have to get together to sort out where that might be the case. It’s not our issue per se. We’re perfectly willing to make working papers available, people available.”
For the full video interview, click here.