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Deloitte FY22 ANNUAL REPORT
- Firm leadership
How we made a difference for our clients, teams and our nation in FY22
This year, A&A continued to invest significantly in people, processes, and technology to transform the audit experience of our people and clients and drive sustained quality. In doing so, we are proud to have won several large and iconic audits, particularly in the ASX100, including Aurizon, Boral and CSL.
Our Assurance practice also continues to grow and perform strongly based on strong client demand for our remediation, treasury, finance transformation and regulatory services. We have invested in the building of technology solutions and capability in key areas of responsibility of the CFO and Finance function including accounting standard changes, Alliance relationships (including Concur, Blackline and Workiva) and controls maturity.
As we look forward, our purpose of building trust and giving confidence on issues that matter most is as important as ever. Our stakeholders are increasingly looking to audit and assurance professionals to provide views and assurance on some of the most topical risk areas they face including climate change, cyber threat and business resilience.
Building new capabilities, keeping a strong focus on talent and leadership development, and transforming through leading-edge technology and innovation will continue to be key areas, helping us to redefine what is possible.
I am proud of the impact we had in realising our clients' transformation ambitions and leading on the issues of our time - like our work with WA Health to modernise their statewide workforce system, our engagement with a global resources company to support their decarbonisation journey, our leadership in the redevelopment of MyGov to underpin government service delivery, our partnership with Bank of Queensland to execute their digital transformation, and our work with leading Australian retailers to define their growth and innovation strategies.
We reaffirmed our position as the most innovative Consulting practice, investing in assets, teaming with our alliance partners and clients and placing creativity at our core. We were proud to be awarded Best Service Innovation by the AFR BOSS Most Innovative Companies for Deloitte Illuminate, our asset that uses machine learning to help organisations increase visibility of risks in their multi-tier supply network. We also celebrated multiple awards for creativity, including as Digital Agency of the Year at ADFEST and a Bronze Lion at Cannes Lions for our Belong Carbon Thumbprint campaign.
Twelve new teams joined Consulting through transactions in FY22, bringing specialist capability and sector expertise across our advisory, implementation and operate offerings. I loved congratulating 39 partner promotes from within Consulting and welcoming several exceptionally talented lateral partners into the team. As we head into FY23, our talent remains our top priority, with a focus on creating the best careers through accelerated career development and inspiring our teammates to achieve incredible things for our clients and each other.
With capital markets bouncing back we were proud to be involved in such marquee growth deals such as Cranky Health, Telstra InfraCo and Crown as well the Probuild restructuring deal.
We continued to strengthen our capability in social infrastructure by launching new solutions in infrastructure asset management with the team from PDS Group joining Deloitte.
Australia's urgent need for a sustainable health system saw us make two investments, with the health policy advisory team at Siggins Miller joining Deloitte and hiring leading talent to build a national hospital financial sustainability business.
Digital is a priority and we trained more than 800 of our team in SQL, Tableau and Power BI. World-class eDiscovery and Data capability coupled with our trust reputation won landmark projects with the Crown Royal Commission and Royal Commission into Veteran Suicide.
In the lead up to COP26 our Turning Point report and the leadership of our climate partners influenced the BCA and the Climate Leaders Coalition to unite Australian business leaders behind a collective Net Zero 2050 commitment. In a year of great achievement for Financial Advisory, this was our proudest moment.
Our market focus has been underpinned by a choice to lead on the most significant issues including cyber, climate, resilience, digital risk, workforce and regulation. It is in this work that we have made a real impact for our clients, our society and our nation.
We have played a key role in securing Australia's critical infrastructure by facilitating government and industry to share cyber threat intelligence. In collaboration with government, our assets have been used to enable farmers to respond to climate change and build adaptive capacity. We are proud to have led multiple, large and complex programs to help our clients deliver on their obligations to customers and employees and achieve sustainable compliance. Finally, we partnered with education, government and industry to design and launch the Cyber Academy to fast-track talent and skills into areas of critical need for our country.
Our team is doing outstanding work, collaborating across our firm to deliver transformational outcomes on the issues that matter most to our clients. I’m really proud of what we have achieved in FY22 as we move toward our ambition of being Australia’s leading digital Risk Advisory business.
Some of the highlights for the year include our work for the Department of Defence to provide leading edge digital tax services, working with Telstra as a key advisor on the creation and divestment of the Towers business, as well as supporting several of Australia’s largest listed and private organisations to maximise value through their M&A activity. We also made strides in expanding our legal offerings to focus on key issues such as workplace integrity, intellectual property and technology.
We experienced 25% growth in our global trade business, which was underpinned by digital innovations, such as our Trade Ai tool that helps importers and exporters manage tariffs. In FY22 we also enhanced the delivery experience for our clients with the launch of Intela, our globally integrated tax platform that significantly strengthens our ability to support clients with their regulatory and compliance obligations. Finally our strategic partnership with Thomson Reuters has provided us with greater reach and bolsters our offerings in relation to the tax implementation of ERP projects.
The future belongs to the bold, I am committed to shaping the next generation of our Tax & Legal business – one that is connected, digital and future ready.