June 19, 2018

Barry Salzberg isn’t Satisified with Deloitte’s Diversity

small salzberg.jpgAccounting firms get lots of recognition for their diversity, but Barry Salzberg isn’t satisified:
More, after the jump

Deloitte still plans to do aggressive hiring of Asian employees, including in Asia, where Salzberg said the firm was doing more offshore outsourcing of accounting work, especially at a center in Hyderabad, India. The firm also plans to ramp up its recruitment of African American and Latino employees.

What he can’t figure out is why 30% of annual recruits are Asian, but only 20% of the Deloitte workforce is Asian, and only 6% are partners or directors.
He has some ideas though:

“We think there is a cultural issue there with Asians typically being less aggressive, a little bit more reticent to speak up, and when they move to the manager and senior manager ranks, which happen very clearly within the organization, it then appears that their leadership skills are not being demonstrated in the minds of those that are evaluating them,” he said.

We’re not exactly sure if B. Salz is saying that Asians don’t make partner because they are reticent to speak up or if it’s because the people evaluating them have unattainable standards of performance.
One thing is for certain. The trend of bald men in leadership roles remains strong to very strong.
We’re sure you’ve got opinions on this. Like we mentioned, the firms aren’t shy about promoting how diverse they are. So what are you thoughts on diversity at Deloitte? In the Big 4? Discuss in the comments.

small salzberg.jpgAccounting firms get lots of recognition for their diversity, but Barry Salzberg isn’t satisified:
More, after the jump

Deloitte still plans to do aggressive hiring of Asian employees, including in Asia, where Salzberg said the firm was doing more offshore outsourcing of accounting work, especially at a center in Hyderabad, India. The firm also plans to ramp up its recruitment of African American and Latino employees.

What he can’t figure out is why 30% of annual recruits are Asian, but only 20% of the Deloitte workforce is Asian, and only 6% are partners or directors.
He has some ideas though:

“We think there is a cultural issue there with Asians typically being less aggressive, a little bit more reticent to speak up, and when they move to the manager and senior manager ranks, which happen very clearly within the organization, it then appears that their leadership skills are not being demonstrated in the minds of those that are evaluating them,” he said.

We’re not exactly sure if B. Salz is saying that Asians don’t make partner because they are reticent to speak up or if it’s because the people evaluating them have unattainable standards of performance.
One thing is for certain. The trend of bald men in leadership roles remains strong to very strong.
We’re sure you’ve got opinions on this. Like we mentioned, the firms aren’t shy about promoting how diverse they are. So what are you thoughts on diversity at Deloitte? In the Big 4? Discuss in the comments.

Related articles

Deloitte: Folding Like a Cheap Lawn Chair?

deloitte.jpgIs it possible that the spinelessness of the FASB is spreading some of the firms?
Motely Foley is reporting that MGM Mirage got the Big D to drop the going concern language from its “financial assessment” which we confirmed with the author, Bob Steyer, that indeed meant the audit opinion.
Doing a little digging on this whole sitch, we found that MGM has done some duct tape repairs to its balance sheet in order to convince its banks and Big D that nothing is fucked.
Deloitte, wanting to be troopers and all, probably just had to step back from the whole thing to get perspective. “Yeah, when you look at it from back here, $14.4 Billion in debt doesn’t really look that bad.”

MGM Back From the Brink — for Now
[Motley Fool]

Deloitte May Be the #1 Firm of No Fun

heelys.jpgRegardless of who a client is or what their business is, accounting firms don’t like to lose them. Lost revenue, a little bit of a slap in the face, a promise that wasn’t delivered (which, let’s be honest, really isn’t all that rare).
For whatever reason, we find the story that Heelys, the skate shoe company, having fired Deloitte as their auditor, has to be an especially tough pill to swallow for the Big D.
Why, you may ask? How about the fact that Heelys MAKES SHOES THAT HAVE WHEELS ON THEM which might be something fun.
According to Reuters, Heelys gave Deloitte-period the heave-ho primarily because of cost considerations. That may be true but something tells us that the real reason might have been Deloitte putting the kibosh on Heelys request of the audit team to wear the skate shoes while working at the client’s HQ.
Deloitte, like all Big 4 firms, being the fun killer, likely argued that skate shoes did fall under acceptable attire in its dress code.
It was probably only a matter of time until the Heelys audit committee concluded that they had to find another audit firm with smaller sticks up their asses. Partners on the engagement are now quietly stewing with their decision that may have put their firm solidly in the #1 slot for hating all things fun.

Heelys dismisses accounting firm
[Reuters]