Deloitte Record Financial Performance in 2007

Deloitte is a global organization providing audit, consulting, legal and financial services. Deloitte had its highest level of record performance in 2007 as it worked to help its clients adapt to the changing economy. The company's revenue increased by 12 percent from $7 billion to $8 billion and net profits increased by 15 percent from nearly $1.5 billion to over $1.7 billion in 2007-2008 compared with 2005-2006 revenues of approximately $6.2 billion and net profits of approximately $1.3 billion.

Washington Legal Foundation v. Holder, a class action lawsuit against the Internal Revenue Service for illegally targeting groups that filed tax exempt applications with the IRS and intended to defend the suit. Over 22,000 conservative groups were affected.

The Justice Department and IRS have still not answered allegations and questions relating to the case.

26 percent of groups that applied for tax exempt status reported they were audited by the IRS and 34 percent of tea party organizations said they were audited, according to a poll released in June by The Tea Party Patriots Citizens Fund.

On January 26, Deloitte announced to the German Federal Cartel Office that it had "agreed to acquire a majority stake in the consulting firm Booz & Company, one of its largest competitors in the United States". The merger was expected to be "complete by June 1."

Firmwide, Deloitte Touche Tohmatsu Limited (Deloitte Global) comprises six member firms and their subsidiaries. Each member firm is a legally separate entity and operates under its own name and brand. Deloitte refers to one of these members as Deloitte Touche Tohmatsu Limited (DTTL), which serves the global market from its UK-based operations. DTTL does not provide services to clients.

Deloitte refers to the member firms as Deloitte Touche Tohmatsu (DTTM) or as Deloitte Global. The term "Deloitte" is also used to refer collectively to all member firms or individually when discussing one of the member firms, as well as when referring to products and services offered by a specific member firm, such as "Deloitte Consulting". Collectively, member firms of DTTL are referred to with the prefix "Deloitte", such as "Deloitte & Touche", while this term is not used for individual members.

Deloitte refers to the collective offerings of all member firms collectively as "Deloitte" or "Deloitte Global".

Deloitte refers to the member firms of DTTL and their subsidiaries. These firms are legally separate and are referred to individually as "member firms" or as "firms". Collectively, these firms are referred to with the plural term "member firms", such as "the member firms". The same term is used for referring to products, services, and other activities offered by a specific firm, such as "the member firm's services".

Deloitte Touche Tohmatsu Limited is a UK-based company limited by guarantee. It is incorporated in England. It operates the business of Deloitte Touche Tohmatsu Limited through the membership of Deloitte Touche Tohmatsu Limited.

Deloitte & Touche was founded in 1864 and was one of the largest legal accounting firms in the United States for many decades, during which it maintained a strong focus on public accounting. The firm is now largely defunct. The name "Deloitte & Touche" comes from its founding partners, Thomas Gage Carter (1825–84) and Henry Sargent Storey (1826–1901). Those two men established their partnership in 1865, with Storey returning to Boston in 1866 to begin his law practice. Carter remained in New York to continue the practice of Deloitte & Carter. In 1884 Carter retired, turning the firm over to his son, Henry Sargent Carter (1857–1925), who was joined in 1888 by John Thompson Blair (1856–1927). Mr. Blair changed the name of firm to Deloitte & Blair and then again in 1898 to Deloitte, Blair & Company upon joining forces with James M. Cookingham (?-1936) and Samuel Lowell Price.

In 1895, the firm was reorganized and renamed Deloitte, Plender, Griffith & Co. as Arthur Deloitte (1862–1933) had recently joined the firm from England. The founder Henry Sargent Storey had died in 1901 and his son Henry Howard Sargent Storey (1870–1907) died soon after joining the partnership. Another member of the original group with Carter and Storey was Charles M. Williams (?-1909), who remained with Deloitte until 1881 when he withdrew for health reasons. In 1896 Plender retired from Deloitte, leaving it as Carter, Blair & Cookingham. In 1897 James M. Cookingham died and Arthur Deloitte became a partner in the firm, which then changed its name to Carter, Spencer, Wing & Deloitte. Spencer was a former CMA employee and founded the accounting firm Spencer Grant & Co. In 1902 the firm took on William H. Spencer (?-1927) as a new partner and changed its name again to Carter, Spencer & Deloitte (CSD).

In 1906 James M. Cookingham retired from the practice of law and moved to Colorado where he pursued his interest in mining ventures. The partnership with his name was dropped from the title as he was no longer active with the partnership and his heirs would not inherit it upon his death. Arthur Deloitte became the sole partner of the firm and renamed it Carter, Spencer & Company. In 1913 Arthur Deloitte moved to New York City and retired from the firm in 1916. The name was changed at that time to Carter, Klebanoff & Company. In 1920, Alex Plender joined the firm as a partner but died in December 1921. The firm went back through some reorganization and name changes including becoming Carter & Klebanoff in 1925 when Charles E. Smith became a new partner after retiring from Arthur Young & Company's audit division.

In 1929 Arthur Deloitte died, leaving his estate to his family which would carry on Edward M. “Ted” Deloitte (1904–2002). The firm became Deloitte, Price & Deloitte (DP&D) and continued as such for almost 40 years until the 1960s.

Carter and Klebanoff, which was the second-largest accounting firm in the United States, merged with Price in 1961 to form Price Waterhouse. Arthur Deloitte was a partner of Arthur Young & Company at that time. The firm was originally known as Price & Flickinger but changed it name to Carter & Klebanoff after Plender's death.

Deloitte Touche Tohmatsu Limited is one of two types of limited company that can be formed in England (the other being a company limited by guarantee).

Conclusion: These firms are not related in any way, unlike the firms in the "Deloitte Touche Tohmatsu" group. These two sets of member firms operate under different rules.

Deloitte's "corporate headquarters" is located in Toronto, Ontario, Canada.