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Don't Wait for Miracles - Act Now 16 January 2008 Budapest, 16 December 2008 – Deloitte's Audit Function has compiled a list of aspects containing ten elements based on which enterprises should revise their operations under the changed financial and business environment. This revision creates an opportunity for enterprises to assess their exposure to the adverse effects of the situation as it highlights the areas where companies should take action. By developing the appropriate survival strategy, adverse effects can be minimised, in other words, instead of waiting for a miracle, by acting swiftly they can gain a competitive advantage.
 
Gábor Gion, the partner...
Official Statement of Deloitte in Relation to the Postabank Case 15 January 2008 Budapest, January 15, 2008

We are pleased with the Supreme Court decision which disposes of a very significant portion of the claim. We have always said that this claim is without merit. We therefore hope that in the light of this decision the plaintiffs will now reconsider their position in the remainder of the case, which, after seven years of very costly litigation, is now back at the beginning following the previous Appeal Court ruling.

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Professional recognition: Deloitte experts in leading positions 14 January 2008 Budapest, 14 January 2008 -At the Meeting of Delegates held at the end of last year, the Chamber of Hungarian Auditors elected Dr. Judit Ladó, partner of Deloitte's audit function, Professional Vice-president of the Chamber for four years. Furthermore, the Chamber's Money and Capital Market Section elected Attila Péter Horváth , director of Deloitte's audit function, presidency member of the Section for four years.

Dr. Judit Ladó (59) partner, registered auditor, has a 20-year professional experience of auditing gained at Deloitte and other Big 4 companies....

Global TMT companies “treading water” when it comes to security and privacy 14 January 2008 Budapest, January 14, 2008 –  TMT companies are facing a variety of new challenges and risks, including significant security threats due to digital information and technology. This is according to the 2007 TMT global security survey, “Treading Water”, from Deloitte Touche Tohmatsu.  The survey indicates that when it comes to security and privacy, the majority of TMT companies find themselves “treading water”. Despite increased security investments, many are just managing to keep pace with the growing threats. In order to get in front of the problem, TMT businesses must increase their...
Determining The Fair Value Of Financial Instruments Under IFRS In Current Market Conditions 14 January 2008 Budapest – January 14, 2008 

The current market conditions of the "credit crunch" and reduced market liquidity present significant challenges for users, preparers and auditors of financial statements in relation to the valuation and reporting of financial assets and liabilities. Owing to the widespread effect of the conditions, these challenges are not confined to financial institutions and could affect many corporate entities.

In response, the world's six largest accounting networks under the auspices of the Global Public Policy Committee have issued a paper recently to enhance awareness of the...

Deloitte Christmas Survey 19 December 2007 Only shoppers in healthy economies will spend more but most European consumers will restrict their 2007 Christmas budget to absorb food and energy price increases


This year’s Deloitte Christmas survey reveals how consumers perceive the changing environment and how it will impact their shopping attitude: less spent on gifts and more on food in order to balance the budget; search for alternatives to imported toys when quality is in question; the developing internet becoming indispensable for shoppers, etc..


Budapest, Hungary – December 19, 2007 —  The holiday season is always a great...

Central Europe is a Primary target for European venture capitalists 17 December 2007

Budapest, 17 December 2007   European venture capitalists (VCs) are sticking close to home when assessing future investment opportunities, with 23 percent most interested in Central and Eastern Europe, according to the 2007 Global Venture Capital (VC) Survey, sponsored by Deloitte Touche Tohmatsu (DTT) and the European Private Equity and Venture Capital Association in Europe (EVCA). The study compared the...

Gábor Gion is the New Partner-in-Charge at Deloitte's Audit Department 05 December 2007 Budapest, Hungary – 5 December 2007

Gion Gábor was appointed as the leader of Deloitte's audit department on 1 December 2007. In addition to further expanding the service line, Mr Gion's task will be to find the most talented young professionals in the field.

With a degree in mathematics and a qualification as a chartered accountant, Mr Gion has substantial audit experience both under the Hungarian and international - IFRS and US GAAP - standards. He participated in the supervision and coordination of a number of acquisition and due diligence projects.

As of December 2007, Jack Bell - former leader of the audit department...

World’s Largest Financial Institutions Challenged by the ‘Security Paradox’ 03 December 2007 Budapest, December 3, 2007 – While information security incidents continue to grab the attention of business executives, “ownership” of the underlying problems is still perceived to rest with IT, according to a new Deloitte Touche Tohmatsu (DTT) survey.  Less than two thirds (63%) of respondents to DTT’s 2007 Global Security Survey have an information security strategy. Only 10% of this year’s respondents have their information security led by business line leaders.  These findings support an emerging security paradox: the gap between awareness of the problem and support for the...
New colleagues in the Deloitte team 03 December 2007 Budapest, Hungary – 03 December 2007 - Several senior staff recently joined the Deloitte Hungary team.

Tamás Forgács 
As manager of the ERS function of Deloitte Hungary, the main tasks of Tamás Forgács are to manage the IT and business control audits as well as to develop new, innovative services. Tamás, who worked as the head of IT firms (Eastbrokers, Negral, Fornax) for seven years and spent four years at PricewaterhouseCoopers, has broad experience in managing system and process audit, SOX compliance projects as well as with projects aimed at improving...

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