The delayed separation of Deloitte Consulting from its auditing parent Deloitte Touche Tohmatsu (DTT) has been shelved due to the "uncertain state of the economy".
The initial timetable for the split and rebranding of the consulting arm as 'Braxton' was announced early last year, but had already slipped from September 2002 to the end of last month.
But a UK spokesman for DTT told vnunet.com that, despite the change of plan, it was "business as usual" for the company and its customers.
"Because of the financial situation, [spinning off] would have created greater risk. [Staying as we are] will give us a stronger credit base to invest in the consulting and auditing businesses, which will benefit clients," he said.
Other major accounting and auditing firms have become independent from their consulting arms to better comply with US regulators following the Enron scandal.
But DTT maintains that it will still comply with US and global financial regulations.
"The main implication is that it won't be able to target DTT's audit customers, which is a huge blow for a firm that had hoped to capitalise on existing client relationships," said Tola Sargeant, an analyst at services industry watcher Ovum Holway.
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