News Analysis Deloitte, the accounting firm that was fined $20 million by the U.S. Securities and Exchange Commission (SEC) for shielding Chinese companies from U.S. oversight, has been hit with a fine of more than $30 million by the Chinese Communist Party (CCP). How did Deloitte find itself in this awkward position between the two…
Big Four Accounting Firms Out of Favor in China: Deloitte’s Beijing Office Penalized
April 8, 2023
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National Retail Federation Forecasts 8 Percent Holiday Sales Growth
November 3, 2022
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The National Retail Federation is forecasting holiday retail spending to grow 6 to 8 percent this year reaching up to $960 billion as many shoppers dip into savings or use credit cards to buy gifts for loved ones. “Our expectation is that we will have positive real [inflation-adjusted growth] for the holiday season,” association spokeswoman…
Canadians Plan on Spending Less This Holiday Season, Survey Shows
Canadians expect the economy to worsen in 2023 and plan to spend less this holiday season, according to a new poll. The survey by Deloitte, a consulting, financial, and risk advisory firm, says Canadians are “skeptical, concerned, and craving attention” coming into the first Christmas season without any lockdowns or restrictions in a couple of…
White House Releases New National Security Plan
China is the greatest challenge to the United States: The Biden administration is labeling the communist country in its National Security Strategy. Chinese companies are delisting from American stock markets, with their value taking a plunge. One Western audit company is facing a massive fine for fraud. New evidence is hinting at a Chinese cover-up…
Americans Feeling Pain of Inflation as They Begin Back-to-School Shopping
Inflation has soared in the past year, and parents are feeling the difference as they start back-to-school shopping this year. A new Morning Consult survey found that parents expect to spend more money and are less excited about shopping for their children this year. “As pressure mounts on everyday expenses, more parents feel that they’ll…
Australia’s Economic Growth Expected to Fall in 2022-2023
Global consulting firm Deloitte has forecast that Australia’s economic growth will decline in the next 12 months, but not at an alarming rate. In its latest quarterly Business Outlook report, Deloitte predicted the Australian economy to grow by three percent in the 2022-2023 financial year and 2.5 percent in the next year. Stephen Smith, the…
Deloitte: Hong Kong Exchange Ranked 9th in Global IPO’s in First Half of Year
Deloitte said at a press conference on June 22, that the Hong Kong Exchanges (HKEX) ranked ninth in the world in terms of Initial Public Offering (IPO) capital raised in the first half of this year. The number of IPOs in Hong Kong in the first half of this year fell 48 percent to 24,…
Australia Loses More Than $10 Billion a Year Over Financial Abuse
Approximately 600,000 Australians suffered from financial abuse in 2020, causing the victims and the economy to lose $5.7 billion (US$4.1 billion) and $5.2 billion, respectively, Deloitte research has found. Over 400,000 women and nearly 200,000 men in Australia have experienced financial abuse. Additionally, the cumulative adverse effect of people being impeded from working themselves and…
More Than $1B Needed to Clear Surgical Backlogs: Canadian Medical Association
November 30, 2021
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OTTAWA—The Canadian Medical Association says it will cost $1.3 billion to clear the backlogs for eight key procedures that were put on hold during the COVID-19 pandemic. The association commissioned consulting firm Deloitte to report on the effect of the pandemic on Canada’s health-care system. Deloitte found a backlog of 327,800 procedures across Canada. The…
Judge Denies DOJ Request for Private Firm to Create Database of Jan. 6 Evidence
A federal judge in Washington on Friday denied a Department of Justice request to hire a private contractor to create a database of the evidence of the Capitol breach on Jan. 6. Chief Judge Beryl Howell of the U.S. District Court for the District of Columbia denied the DOJ request to provide grand jury material…
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