Deloitte and Transparency – Isn’t It Ironic?

NEW YORK, Aug. 22 /PRNewswire/ — Frank Piantidosi, Chairman and CEO of Deloitte Financial Advisory Services LLP (Deloitte FAS), has been elected to the board of directors of Transparency International-USA, the American chapter of Transparency International, a Berlin-based non-profit and non-partisan organization founded in 1993 to curb corruption in international business and development.

Meet Frank Piantidosi
Chairman & Chief Executive Officer, Deloitte Financial Advisory Services LLP
Frank Piantidosi is the chairman and Chief Executive Officer of Deloitte Financial Advisory Services LLP (“Deloitte FAS”). He serves on the Operating Team Committee of Deloitte & Touche USA LLP and represents Deloitte FAS in all key initiatives. Frank is also the global leader of the Forensic & Dispute Services practices of the Deloitte Touche Tohmatsu member firms and their affiliates and, in that role, he has built a global network of sophisticated forensic and technology service offerings.

For the last two decades, Frank has led the development of the dispute consulting and forensic investigations discipline. In the late 1980s and early 1990s, he realized that the incidence of complex fraud was growing exponentially worldwide – and helped define the special skill set of investigatory experience, technological skill, and financial acumen necessary to investigate it. His experience in forensic and dispute services transcends borders. In fact, he led the engagement relating to Volcker Commission’s investigation of Swiss banks on behalf of Holocaust victims, which led to a $1.2 billion settlement and the return of hundreds of millions in assets to victims and their heirs.

His first task may need to be investigating why Transparency International thinks Deloitte has a conflict of interest for some work that was done in Lithuania.

The investigations guys in the Big 4 are an interesting bunch. There are actually some women, too. I met some at PwC and they are my kind of women. They know stuff…

Interestingly, Mr. Piantidosi’s bio from the Deloitte website doesn’t mention that his big claim to fame, working on the Volcker Commission, was while he was with PwC. The firms tend to erase any reference to the other firms in their partners’ histories when they poach top guys from each other. The exceptions are the Andersen refugees and their new firms like Huron and Protiviti. These guys proudly reference their AA pedigree. They wear it as a badge of honor and have a hard time understanding why anyone would think this might not always be a good idea. There are still a lot of AA loyalists out there, in the other firms and in industry.

Last month, Frank Piantidosi, a former partner at PriceWaterhouseCoopers who led PWC’s role in the Voelcker Commission investigation of Swiss Banks, joined Deloitte & Touche as the National Director of the Forensic & Investigative Services Unit, based in New York.

And from a 1998 article in Cigar Aficionado about Kroll, the investigative firm:

“The Big Six accounting firms are all expanding their investigative units. Price Waterhouse, for instance, more than doubled its forensic accounting and investigative staff in the past two years to 600 members. “White-collar investigations is the fastest growing segment of our practice,” notes Frank Piantidosi, a Price Waterhouse regional managing partner.”

It’s not that typical for a “regional managing partner” to switch firms. But it looks like Deloitte in early 1999 decided to beef up this practice and started hiring all kinds of people. Was it money, power, a difference of opinion with PwC management, some concern about the future of the practice at PwC?

For some reason, Mr. Piantidosi, who lives in Connecticut, wanted to get licensed in Florida in 2005. His request was denied.
MINUTES
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
BOARD OF ACCOUNTANCY MEETINGMarch 18, 2005
Francis Piantidosi
Deficient an Authorization for Interstate Exchange of Examination and Licensure Information form from New York and a passing score on the Laws and Rules exam.
Motion was made by Mr. Thielen, seconded by Mr. Puissegur, to deny. Upon vote, the motion passed unanimously.

Finally, Mr. Piantidosi is a good Republican soldier, like his boss. He has consistently contributed to those candidates both at Deloitte and at PwC. He even contributed to Giuliani’s candidacy for Senate against H. Clinton when he doesn’t even live in NY! That’s devotion.

Piantidosi, Francis
Darien, CT 06820
Deloitte & Touche/Partner
SHAYS, CHRISTOPHER (R)
House (CT 04)
CHRISTOPHER SHAYS FOR CONGRESS COMMITTEE
$2,100
10/18/06

Piantidosi, Francis
Darien, CT 06820
Deloitte & Touche/Partner
SHAYS, CHRISTOPHER (R)
House (CT 04)
CHRISTOPHER SHAYS FOR CONGRESS COMMITTEE
$1,000
10/19/04

PIANTIDOSI, FRANCIS A MR.
DARIEN, CT 06820
DELOITTE & TOUCUE LLP/CONSULTANT
BUSH, GEORGE W (R)
President
BUSH-CHENEY ’04 (PRIMARY) INC
$2,000
primary
05/18/04
Piantidosi, Francis A.
New York, NY 10019
Deloitte./Partner
DELOITTE & TOUCHE FEDERAL POLITICAL ACTION COMMITTEE
$2,500
04/15/04

Piantidosi, Francis
Darien, CT 06820
Deloitte & Touche/PARTNER
DELOITTE & TOUCHE FEDERAL POLITICAL ACTION COMMITTEE
$1,500
02/20/02

PIANTIDOSI, FRANCIS
DARIEN, CT 06820
DELOITTE & TOUCHE
GIULIANI, RUDOLPH W (R)
Senate – NY
FRIENDS OF GIULIANI EXPLORATORY COMMITTEE
$1,000

03/01/00

PIANTIDOSI, FRANCIS
DARIEN, CT 06820
PRICE WATERHOUSE LLP
PRICEWATERHOUSECOOPERS POLITICAL ACTION COMMITTEE II
$600
09/05/97

PIANTIDOSI, FRANCIS A
DARIEN, CT 06820
PRICE WATERHOUSE LLP
PRICEWATERHOUSECOOPERS POLITICAL ACTION COMMITTEE II
$400
10/03/95

PIANTIDOSI, FRANCIS A
DARIEN, CT 06820
PRICE WATERHOUSE LLP
PRICEWATERHOUSECOOPERS POLITICAL ACTION COMMITTEE II
$350
09/23/94