2021 Global Impact Report

 

How does an organization that thrives on connection continue to flourish when its connections are disrupted, its offices closed, its travel curtailed?

Deloitte approached it like any other problem that needs to be solved. Backed by technologies in which we’ve invested, relationships we have built and innovation we nurture, Deloitte practitioners devised and embraced strategies that enabled them to adapt quickly to meet each client’s needs—maximizing their virtual connections to make remote work work.

It helped that our organization already had been preparing itself and Deloitte clients to transition to a different way of working—one that’s digital, cloud-based, flexible, more sustainable and data-driven. The COVID-19 pandemic merely accelerated the inevitable.

 

Our organization has been making significant investments in technology that helps Deloitte clients both disrupt their competition and withstand disruptions aimed at them. Deloitte Consulting teams worked with clients and alliances to ideate, develop and deploy innovative, cloud-based, sector-specific artificial intelligence solutions, enabled by the Deloitte Center for AI Computing. And Deloitte’s cloud-first technology strategy and innovative collaboration tools allowed Audit & Assurance (A&A) professionals to continue the delivery of high-quality audits.

During the year, professionals across all Deloitte businesses prioritized pandemic-support programs and resources to help Deloitte clients across sectors build organizational resilience. Deloitte Consulting practitioners, for example, contributed significantly to public health outcomes, providing solutions for numerous government and private-sector clients in the areas of vaccinations, testing, supply chain disruption and more.

The focus on helping Deloitte clients respond to the pandemic, recover from the challenges it continues to present, and thrive going forward was strengthened by alliance relationships with 15 of the world’s leading technology providers—connections that help Deloitte enable innovation and transformation for clients and accelerate execution at scale in a differentiated way compared with other professional services providers.

Deloitte Risk Advisory practices also leveraged technology to support clients’ security needs while entire organizations were navigating virtual work. To improve reliability and safeguard organizations, Deloitte continued to support its clients in shaping smarter process and empathetic platforms with greater insight, agility and resilience to threats. More than 22,000 Deloitte Cyber professionals globally helped organizations identify cyber risks, prepare for and detect the threats, strengthen and secure their environments, respond and recover.

Deloitte Financial Advisory professionals have been engaged on more than 1,200 distressed and COVID-related mandates. Deloitte’s market-leading mergers and acquisitions (M&A) practices advised on thousands of transactions during the merger wave of 2020. Turnaround and Restructuring teams have assisted governments around the world to administer pandemic-related funding for businesses and individuals, and have participated in government-led COVID-19 task forces to advise on distressed sectors. And Deloitte infrastructure practices have supported projects related to pandemic response and economic stimulus, including testing and tracing programs, and promoting projects around smart cities and urban renewal.

 

Deloitte Tax practices also helped clients navigate the ongoing complexity caused by the pandemic and map growth plans for recovery. The acceleration of new business models is challenging the tax function in fundamental ways and driving demand for transforming tax operating models through outsourcing and co-sourcing of routine compliance and reporting activities.

Similarly, Deloitte Legal practices worked with clients to transform their legal operating models in ways that responded to the rapid shift to virtual working and rethink the use of technology to improve processes and cost structures. Deloitte Legal practices also helped clients navigate employment laws as they implemented COVID-19 restrictions, remote working accommodations, return-to-work rules and other matters that could affect employees’ rights and well-being.

 

Deloitte remains committed to acting in the public interest and upholding our vital role in the financial reporting ecosystem, both for today’s realities and the future. This includes ongoing investments to equip Deloitte Audit & Assurance professionals with the latest guidance, tools and leading practices to deliver high-quality audit and assurance services to meet investors quickly evolving expectations regarding corporate reporting, including the impacts of environmental, social, governance (ESG) and climate matters across industries. As the scope of Deloitte clients’ tax teams extends, they too are increasingly seeking Deloitte’s input on sustainability reporting—in addition to major tax policy reforms, digitalization of tax, M&A, supply chain, and employment and mobility.

Ultimately, Deloitte professionals’ ability to pivot quickly and successfully has helped clients do the same and position themselves for growth. The pandemic may have kept our people physically distant during the past year, and it may alter the way practitioners and clients connect going forward. But, it also reinforced that even the most intimidating obstacles can’t halt progress—and they may actually hasten better ways of working and serving clients and the public interest.

Performance by the numbers

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Performance by the numbers