Budapest, May 2, 2007 - Airline fraud is costing the industry over US$600 million a year according to a new report. The survey, undertaken by Deloitte and the IAAIA (International Association of Airline Internal Auditors), shows that fraud has increased five-fold since the last in-depth study of the industry six years ago. 79% of airlines participating in the survey have experienced fraud in the last 12 months.
Deloitte found the average airline loses US$3 million a year to fraud, with low cost carriers being the hardest hit. The average number of fraud cases for the low cost carriers was over 1,000 a year, compared with around 300...
Board members and executives are more aware of the value of non-financial performance measures, yet their ability to monitor these remains inadequate There are clear obstacles to companies in monitoring non-financial performance, and improvement will require significant changes in corporate governance Deloitte CEO states that business performance and financial results will likely improve with a more balanced mix of financial and non-financial objectives
Budapest, April 19, 2007: Many board members and senior executives are still in the dark about the overall health of their organizations because they lack...
Budapest, March 21, 2007 - The amount of money consumers spent with the top 250 retailers in the world reached a record $3.01 trillion between July 1, 2005 and June 30, 2006, up 6 percent over last year's total of $2.84 trillion, shows a new report from Deloitte Touche Tohmatsu, in conjunction with STORES magazine.
Budapest, March 5, 2007 - Deloitte appointed Alastair Teare as the interim Office Managing Partner of Deloitte Hungary effective from 2 March 2007. Mr. Teare takes over the position from András Simor, who continues his professional carrier as the President of the National Bank of Hungary from 2nd March, 2007.
The appointment of Alastair Teare (39) shows Deloitte's dedication to continue the professional work at the usual highest standards. Alastair is ideally positioned to serve as temporary Office Managing Partner, given his experience and significant contribution to the success of the Hungarian firm in the past...
Budapest, March 2, 2007 - Deloitte Auditing and Consulting Ltd. (Deloitte Ltd.) is extremely satisfied with the decision delivered today by the Court of Appeal in the Postabank case. The court has indeed reversed the decision made by the court of first instance and has dismissed the Hungarian State's claim in as much as it concerned the damages claimed by the plaintiffs in their capacity as shareholders of Postabank. The court has further decided to set the first instance decision aside on all other counts and to send the case back to the first instance court for a rehearing of the case. Given the very nature of the first instance judgement...
Investments from private equity funds focused on Central Europe have cashed in on higher exit multiples says the most recent Deloitte Central Europe Private Equity Confidence Survey
19 February 2007, Budapest - According to the most recent Deloitte Central Europe Private Equity Confidence Survey, 2006 was a great year for Private Equity in the region. In the past 6 months funds have cashed in on higher exit multiples which is expected to turn to more of a buying focus. This is confirmed by the findings of the survey, as the focus on new investments is reaching its all time high. “Based on our results, we...
1st February 2007, Budapest - The Technology, Media and Telecommunications (TMT) practice at Deloitte today announced its predictions for the media sector for 2007.
Béla Seres, Partner in Charge of Deloitte Financial Advisory Services has stressed that the report forecasts the growing importance of print media, and the possibility of the accession of social networking sites to a larger, profitable market by charging for privacy. „China will not fulfill the expectations of the media sector, but we have to accept that this market is very special, where a blend of precision and patience will likely be...
8 February 2007, Budapest - Barcelona join their Spanish rivals in the top two. England has eight clubs in top 20
The Deloitte Football Money Leagueshows the total revenue of the world's Top 20 clubs is now over €3.3 billion. Real Madrid stays ahead of the competition with total revenue of £202m (€ 292m), Barcelona are this year's biggest movers, up four places to second place completing a top two for Spanish clubs.
Manchester United, who had headed the first eight editions of the Deloitte Football Money League, is the highest of eight Premiership clubs in the top...
1st February 2007, Budapest - The technology industry will become more environmentally conscious, portable energy sources will get more emphasis and Hi-tech will be simplified in order to achieve success.
According to the Technology, Media and Telecommunications (TMT) practice at Deloitte, 2007 might become the year of solving the most critical problems. According to Deloitte's survey, the environment's impact on technology and how it influences the conception, marketing and distribution of various technologies are likely to be among the most key developments of 2007. Environmental decline is likely to continue to...
Even though the telecommunications market is well over a hundred years old, it retains its capacity for innovation, reinvention and growth. According to the predictions of Deloitte Technology, Media and Telecommunications Group (TMT), 2007 promises to be an interesting year for all those working with and for the global telecommunications sector.
Internet - slower, without PC One of the key possibilities for the year 2007 is that the Internet could be approaching its capacity. The twin trends causing this are an explosion in demand, largely fuelled by the growth in video traffic and the lack of investment in...
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