Despite softer growth in the markets and price pressure, Deloitte strengthened its position in industry segments with new high-profile clients. The successful targeting of Financial Services and Local Government services was led by experienced partners who offered sector insights and a practical cross-functional approach.
Deloitte also provided strategic advice and execution to new and existing clients in the private and public sectors. In the corporate market, important mandates were secured from ABN Amro, DSM, Endemol and Philips, ect. In the public sector, work was performed for Gemeente Rotterdam, ministries of OCW and VROM, among others.
The firm's dedicated focus on the mid-market and SME segment was strengthened with business programmes and initiatives such as 50 Best Managed companies, FAST 50, the Family Business Programme and a subscription-based controller offering for the SME market. Numerous training initiatives were launched in the year, aimed at preparing Deloitte professionals to meet the specific needs of this dynamic segment.
At the same time, the recession provided new opportunities for Audit to play a lead role in the restoration of business confidence. For companies and investors alike, the need for dependable information about finances and risk factors has become paramount. The implementation of fair value accounting, International Financial Reporting Standards (IFRS), advanced risk management systems and more efficient internal processes and controls, is drawing on Audit's ability to advise and implement in an integrated way.
During the year 2008/2009, activities undertaken through the cooperation agreement Deloitte Société Européenne (DSE) with member firms in Germany, Belgium, Denmark and Central Europe, were further extended. The agreement allows for jointly aligned investments that enhance the overall market position of the Deloitte firms and further improve cross border services. This cooperation delivers clear benefits to our clients and new opportunities for our people. During the year, several market-oriented initiatives were launched to involve more partners in the firms, although the pace of some of these slowed down as a result of the financial crisis. For the current year, a further extension and acceleration of the activities carried out under the DSE umbrella is foreseen.
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