Deloitte Denies Reports It Would Split Audit, Consulting Arms

Global accounting and consulting firm Deloitte denied media reports Wednesday that it was considering breaking up the firm, saying they are “categorically untrue.”

Deloitte, which reported $50.2 billion in revenues last year, said in a statement to Bloomberg Tax: “Recent media reports that we are exploring a plan to separate our organization are categorically untrue. As stated previously, we remain committed to our current business model.”

• A Wall Street Journal report earlier Wednesday said that the firm was eyeing a split of its audit and consulting practices, just two weeks after competitor Ernst & Young LLP said that it ...