![]() revenue, displacing the new Ernst & Young at the top. Touche Ross clients include American Motors, Chrysler, Litton Industries and Pillsbury.Īn Andersen-Waterhouse merger would create an firm with $5 billion a year in worldwide revenue and $2.7 billion in U.S. revenue and $1.84 billion in worldwide revenue.ĭeloitte’s audit clients include General Motors, Kimberly-Clark, Monsanto and Procter & Gamble. revenue and $1.92 billion in international revenue, while Touche Ross had $796 million U.S. Last year their worldwide growth averaged 26 percent, compared with an 22 percent for the other Big Eight firms.ĭeloitte in 1988 had $820 million U.S. Kagans said.ĭespite their ranking at the bottom of the Big Eight, Deloitte and Touche have posted the most rapid growth in recent years.Īccording to Bowman, their average individual worldwide revenue jumped more than 88 percent from 1985 to 1988. The Touche Ross study, as indicated above, was commissioned. firms will provide clients with a broader range of services and will have additional depth in industry and other areas of specialization,″ Touche Ross Managing Partner and Chief Executive Edward A. the supply of telephone equipment they require at prices which shall be reasonable. Partners outside the United States are expected to approve the merger in votes in the next two months, the firms said. It will draw on the expertise of Japan’s largest audit firm, Tohmatsu Awoki & Sanwa, a member of the Touche Ross International organization. Internationally, the new firm will be known as Deloitte Ross Tohmatsu International. Touche Ross is considered strongest in the Far East with Deloitte a major presence in Europe. ″The increased strength of the new firm in key European and Asian markets will enhance the resources available to meet our clients’ needs as they respond to the economic unification of Europe and the opportunities in the Pacific rim,″ Deloitte Chairman and Chief Executive J. Analysts said the firms plan three more weeks of confidential negotiations and the union is expected to go through.Īnalysts have attributed the merger wave - which is whittling the so-called Big Eight to what some have dubbed the Giant Five - in part to competition in Europe leading to 1992, when the 12-nation European Economic Community plans to implement a border-free market. and Price Waterhouse last month confirmed they are discussing merging to form the world’s largest accounting firm. ![]() That deal is completed and the new firm, Ernst & Young, formally begins operations Oct. agreed to combine operations in a firm with worldwide revenue of $4.2 billion and domestic revenue of $2 billion. In May, the firms Ernst & Whinney and Arthur Young & Co. ″It will be interesting to see if they can continue to be the aggressive upstarts they have been.″ ″This positions Deloitte and Touche near the top of the heap, which is where neither one has ever been,″ said Arthur Bowman, editor of the Atlanta- based industry newsletter Bowman’s Accounting Report. The new firm, to be known as Deloitte & Touche in the United States, will have 20,000 employees and 1989 revenue of nearly $2 billion domestically and 65,000 employees and 1989 revenue of more than $4 billion in 101 countries, the firms said.
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