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Our public interest role

Our public interest roleDeloitte places great importance on its public interest role, and we are proud of our contribution to the growth of UK plc. As a responsible business, we know that our business activities affect society in many ways.

Deloitte Impact 2014

Our Impact Report is a statement of what we stand for as a firm and a reminder of the many ways we make a difference to our economy and society. The 2014 Report features a wide array of stories about:

  • Our efforts in building trust and confidence in the capital markets
  • How we support growth and competitiveness in the UK
  • Our investment in building our people’s skills and helping foster future entrepreneurs and business leaders
  • Our contribution to a sustainable and prosperous society

Key headlines include:

  • This year Deloitte contributed £1 in every £1000 to UK GDP
  • We hired over 3,400 employees, including over 1,000 graduates
  • We invested £27 million in our people’s learning and education
  • Our Social Innovation Pioneers grew revenues by 38% on average
  • We provided around 50,000 pro bono and volunteer hours for charity and social enterprises

Deloitte input to topical debates

Tomorrow’s finance

Deloitte hosted a lecture on 23rd January 2013 as part of a series on ‘Tomorrow’s Finance’. The keynote speaker was Professor John Kay who chaired The Kay Review of UK Equity Markets and Long-Term Decision-Making which reported to the Department of Business, Innovation and Skills in July 2012.

John’s topic was “Building trust and confidence by changing behaviours in financial services”. Oliver Grundy, a Deloitte audit partner specialising in capital markets, contributed his thoughts on the future direction of the sector as one of four panellists responding to Professor Kay’s policy recommendations.

The future of audit

Deloitte is participating in an innovative cross-industry initiative to ask big questions about the future of the audit profession. AuditFutures seeks to create opportunities for dialogue and to build relationships, trust and greater understanding between stakeholders. Its first assembly in July 2012 brought together a diverse gathering of 120 professionals from over 75 firms and organisations, including Deloitte. The assembly was the first step in a journey to collaborate and innovate in recognition of, and response to, the big questions that the profession is facing.

Financial Stability Board – Enhanced Disclosure Task Force

Deloitte UK partner Mark Rhys is a member of the Financial Stability Board’s (FSB) Enhanced Disclosure Task Force (EDTF), formed in May 2012. The Task Force presented a report to the FSB in October 2012, which includes a number of recommendations aimed at enhancing the clarity, comparability and timeliness of information that banks provide to their investors. Deloitte endorses the Task Force’s recommendations.

At the request of the FSB, the EDTF has undertaken review work this year looking at the implementation of its recommendations - see its July letter to the FSB Chairman. Despite the fact that the report was issued shortly before the year end for December reporters, banks’ risk disclosures did improve and further enhancements are expected from users in the next round of annual reports. Deloitte’s recent publication - Responding to the EDTF’s recommendations: A review of 2012 year end reporting - highlights examples of good practice.

Useful links

  • PIOC terms of reference
  • Learn more about our INEs
  • INEs’ independence
  • 2014 Deloitte Impact Report
  • 2014 Audit Transparency Report
  • Back to Public Policy homepage

Find out more

  • Leadership and governance
    Learn about Deloitte’s leadership and governance, including our Public Interest Oversight Committee (PIOC). PIOC’s duties are to enhance shareholder confidence in the public interest aspects of the firm’s decision making, stakeholder dialogue and management of reputational risks.
  • 2013 Audit Transparency Report
    See Deloitte’s latest Audit Transparency Report and learn more about our approach to delivering a distinctive audit, our Public Interest Oversight Committee's focus areas for the year ahead, and ​how we engage with stakeholders.

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