fb

Who earns the most out of a PwC or Deloitte partner and who’s suing Deloitte for $7.6bn?

The Financial Times or FT as it is generally known, is a great newspaper.

First printed way back in 1888 by James Sheridan and Horatio Bottomley, the FT specialises in business and financial news.

You can find a lot of information in the FT.

Information ranging from share prices to the latest business activities can all be found within the paper’s famous light salmon coloured covers.

They have also recently highlighted some interesting figures about the average partner remuneration in the UK firms of PwC and Deloitte.

In the year to 30 June 2011 the average profit share for each PwC partner in the UK was a healthy £763,000.

In the previous year to 30 June 2010, Ian Powell, the Chairman of PwC, received £3.6 million. The latest figures show that he managed to increase this amount to £3.7 million in the year ended 30 June 2011.

But what about PwC’s fellow Big 4 partners from Deloitte?

Even though the Deloitte figures are not entirely comparable with PwC’s due to differences in the treatment of past pension obligations, the results are interesting and it’s not all good news for Deloitte partners in the UK.

This year saw their average profit share fall by 13%. They now have to scrape by with £758,000 per year compared to the £873,000 that they had the year before.

Whilst figures are available for the UK Deloitte partners they are not currently available for the Deloitte partners from over in the US.

My guess though is that the US Deloitte partner’s profit shares may well be reduced this year though as money may be held back for potential legal fees after it was announced today that Deloitte in the US are being sued for the princely sum of $7.6 billion.

They are accused of failing to detect fraud during their audits of a US mortgage firm which went out of business during the US housing crash.

A Deloitte spokesman was quoted in the press as saying the court claims were “utterly without merit”.

Share this entry

Recent articles

View All Articles
Real-World Applications of the Balanced Scorecard
Apr 12, 2024
Title
Real-World Applications of the Balanced Scorecard
Excerpt

In the dynamic world of business, strategies and frameworks that offer holistic views of organisational performance are crucial […]

Professionally qualified in one year – DipIFR
Mar 22, 2024
Title
Professionally qualified in one year – DipIFR
Excerpt

Unlocking Opportunities with DipIFR Introduction In the second installment of our series, we shift our focus to the […]

Professionally qualified in one year – CMA (USA)
Mar 21, 2024
Title
Professionally qualified in one year – CMA (USA)
Excerpt

Accelerate Your Career with CMA Certification Series Introduction In our fast-paced world, the demand for highly skilled professionals […]

Lego – building strategy blocks…
Mar 14, 2024
Title
Lego – building strategy blocks…
Excerpt

In the contemporary business environment, characterised by rapid changes and unforeseen challenges, companies across various industries must adapt […]

Weathering the chocolate storm?
Mar 12, 2024
Title
Weathering the chocolate storm?
Excerpt

In today’s interconnected global economy, the ripple effects of local weather phenomena can have far-reaching consequences, extending far […]

Pass the doughnuts…
Mar 12, 2024
Title
Pass the doughnuts…
Excerpt

Does your weight affect the amount of money you earn? That’s an interesting question and researchers from the […]

The Significance of Audit Quality: Lessons from KPMG’s Fines
Mar 06, 2024
Title
The Significance of Audit Quality: Lessons from KPMG’s Fines
Excerpt

In the intricate world of finance and business, the accuracy and integrity of a company’s financial statements stand […]

Insider Trading: A Cautionary Tale from the Oil Industry
Feb 29, 2024
Title
Insider Trading: A Cautionary Tale from the Oil Industry
Excerpt

In the complex world of finance, insider trading remains one of the most controversial and closely watched issues. […]