Our Businesses

Rob Cullen, Managing Partner, Consulting

With our clients, we’ve navigated pressing issues centred on the need for growth and competitive advantage, operational efficiency, sustainability, regulation, security and risk. We’ve also embraced the transformative potential of emerging technologies, particularly GenAI.

There’s immense interest in GenAI and the Deloitte AI Institute™ has been working with clients to gather high-quality data, which is paramount for successful applications. Equally important is building employees’ trust and skills. We’re helping with fluency training, so people understand GenAI tools and how to use them effectively.

Alongside other areas of the business, we’ve led the charge in ESG regulation and reporting, supporting clients in the energy, automotive and manufacturing industries, for example, to make a real impact on their journey to net zero.

I’m proud that the impact of our own people was recognised with multiple awards this year. These include four wins and four highly commended accolades at the MCA Awards, which showcase excellence in consulting. I hope we continue to inspire in FY25.

Looking ahead, I’m excited to embrace new opportunities to deepen client relationships and add even greater value. Our global scale, skills and multidisciplinary approach have positioned us as a world-leading technology and transformation advisor, and our commitment to investing in our people and innovation will ensure we continue to make an impact that matters.  

Charindra Pathiwille, Managing Partner, Financial Advisory

Our Financial Advisory business faced challenging markets in FY24. However, despite a slow-down in M&A, we saw modest growth across our deal advisory teams and our Transaction Services team grew, demonstrating our ability to capture market share in a difficult environment.  Additionally, areas including valuations, sports business advisory, value creation services and real assets advisory experienced positive growth. 

It was a difficult year for our forensic business, but the macro themes underpinning it remain highly relevant. Fraud prevention is a national priority and we expect the intense focus from the UK’s regulators to continue, alongside a broadening of the current framework beyond banking and capital markets.

In the coming financial year we’re anticipating a return to overall growth, supported by a more active M&A market. Business performance during the summer months gives us confidence that this can be achieved. Our forensic business is likely to be an important rebound growth area, along with transaction services and performance improvement. We also expect our valuations and sports business group businesses to continue performing strongly, further building their market share. 

We’re proud of the work we’ve delivered this year. From supporting clients to create sustainable spaces and use data to improve decisions, to contributing to UK growth through M&A and combating economic crime, we’ve demonstrated the impact we create for our clients, people and wider society.   

Cindy Chan, Managing Partner, Risk Advisory

This year, against a backdrop of continued economic and geopolitical uncertainty, we’ve enabled clients in all sectors to prepare for the future.

Significant areas of growth in FY24 included helping companies with risk management practices; regulatory change, for example, internet regulation; cyber; and financial and operational resilience. Investment continued to focus on supporting our clients with their climate and sustainability strategies, alongside advisory services for CFOs.

One of the biggest shifts this year was the development of AI tools, with organisations keen to realise the value of this technology. We’ve been helping clients to harness the many opportunities AI presents, while supporting them with new security and ethical considerations to ensure they remain protected.

Beyond AI, wider technology transformation remains critical for many businesses. In today’s market, staying competitive means thinking differently when it comes to using data, processes and controls to make operations even more efficient.

Finally, we’re helping organisations as they continue to explore how to embed purposeful ESG metrics into their business practices. This is imperative not only to respond to new regulatory requirements and improve disclosure and reporting processes, but to meet the growing expectations of stakeholders and customers. 

Lisa Stott, Managing Partner, Tax & Legal

In FY24, the spotlight remained on tax and legal requirements as companies navigated a rapidly changing and increasingly complex world.

We play a vital role in helping tax, legal and regulatory systems work better, guiding businesses and their owners through challenges and paving the way for future progress. Through expert advice and support, we serve a wide range of clients and we’re proud of our global reach and innovative solutions. Our strength lies in our diverse skills, disciplines and experiences. 

Over the past year, we've provided clients with advice, compliance support and cutting-edge solutions to address their needs. Our experts have, among other things, integrated AI and machine learning into tax and legal processes, supported organisations with the implementation of a new global minimum corporate tax rate for large multinational enterprises, and helped businesses access incentives for innovation and growth. 

We've made significant contributions to the UK economy. This includes enabling over £18 billion in import and export flows, fostering innovation by supporting businesses claiming R&D tax reliefs, and advising clients on fair pay practices. 

In the coming year, tax automation, regulatory changes and data compliance will be important areas of focus. We will continue investing in our people and new technologies to provide invaluable insights for our clients and help shape the future of tax, legal and regulatory systems.  

Paul Stephenson, Managing Partner, Audit & Assurance (A&A)

From GenAI to sustainability, the issues that are front of mind for companies and society are also where our profession needs to provide clarity and insight. We must challenge ourselves to improve and grow so we, and our people, can continue to thrive, and keep delivering on our purpose to protect the public interest and build trust and confidence in business.

I’m pleased with the audit quality scores we received this year from the Financial Reporting Council, with 94% of the sample audits selected rated as ‘good’ or ‘limited improvements required’. These results are our strongest yet and we’re proud of the improvements we’ve made to strengthen our culture and our system of quality management. But we’re not complacent. We will continue to strive for the highest standard of audit quality.

This year, once again, we’ve seen sustainable growth in A&A. A strong business allows us to make choices about where and how we invest in what matters most – our people. It enables us to attract and retain the best talent and that, in turn, leads to high-quality performance.

Importantly, it helps us to demonstrate the value of A&A and show that it offers exciting, varied and rewarding careers that allow our people to develop professionally and personally.