Deloitte

Deloitte is denying a report this week that it plans to spin off its audit practice as a separate entity from its consulting practice as rival Big Four firm Ernst & Young contemplates such a move.

Sweeping audit reforms are aimed at reining in the dominance of the big firms and cleaning up the industry following a string of high-profile scandals.

Climate change could cost the global economy $178 trillion over the next 50 years, a 7.6% cut to global GDP in 2070 alone, according to estimates from the Big Four firm.

ADP releases updates to Accountant Connect; Clarius R+D releases new version of tax platform; and other news and updates from the accounting technology world.

Deloitte has created a DEI Institute, an initiative aimed at advancing diversity, equity and inclusion through research, collaboration and events focusing on emerging DEI trends and issues.

The Big Four firm said it has entered a strategic partnership with the tax compliance platform to support clients on digital asset transactions.

Organizations will need to test more frequently for an increasing number of risks to internal controls, according to a recent poll by Deloitte.

Sponsored by Deloitte, the inaugural program hosted 28 diverse students from across the country to learn more about the opportunities an accounting career has to offer.

The student team beat out 60 other universities and 11 other finalists in Deloitte's seventh annual competition on audit innovation.

The Financial Reporting Council also issued a severe reprimand against the auditing giant and sanctioned the engagement partner roughly £40,000.