3 June 2008
McCallum Petterson Team On Deck At Deloitte
The merger between Deloitte and McCallum Petterson has taken effect, with the two partners and 30 professional staff from the specialist recovery and forensics firm having their first day on deck at Deloitte today.
Deloitte CEO Murray Jack said the transition had gone like clockwork. “Having 30 new faces around in our Auckland and Wellington offices is very exciting – it’s terrific to have them on board.
“The response from the market has been very positive and I’m sure Barry, David and their teams are looking forward to getting into their work under the Deloitte banner.”
Barry Jordan (formerly a director at McCallum Petterson) has assumed the role as the national lead partner of two brand new service lines at Deloitte - Recovery and Forensics.
He believes clients will be impressed by the strength and depth of experience that Deloitte’s new service offerings would bring to the market. “By bringing the specialist knowledge of McCallum Petterson and Deloitte together, we’ve created a comprehensive spectrum of specialist knowledge for our clients”
The Recovery team, which combines the McCallum Petterson team with Rod Pardington’s corporate reorganisation practice, will be one of New Zealand’s largest full suite of corporate recovery practices. The scale of the new team will enable Deloitte to provide services to clients throughout New Zealand, assisting on projects such as business turnaround, restructures, investigative accounting, voluntary administrations, receiverships and liquidations.
Mr Jordan said that although there was a softening in the economy, that did not necessarily mean there would be a raft of collapses. “I’m a little more realistic – I think there will be some businesses that cannot avoid formal administration, but from our perspective I think there will also be considerable turnaround and advisory opportunities across the full range of businesses throughout New Zealand.
“The key point is that the Deloitte Recovery team will be able to focus not only on recovering funds for creditors, but we also have considerable expertise in helping businesses stablise, recover and become profitable again.”
The Forensics team’s areas of focus include providing expert evidence particularly in the area of complex financial disputes, computer forensics, data recovery, e-discovery, financial and fraud investigations, and data analytics.
The Deloitte Forensics team is already being engaged to use both computer forensic technology and the skills of experienced forensic accountants to reconstruct data to tell a story that will enable clients to trace and ultimately recover misappropriated funds. Mr Jordan said that it was vital to act early and act decisively to maximize recovery opportunities. The ability to work closely with our counterparts across the Tasman gives us greater scale and resources. “Deloitte is the largest forensic practice in Australia, so where there are benefits to be gained and we will be sure to tap into their staggering depth of resources and use them to our clients’ advantage here in New Zealand.”