Deloitte audit services provide the right fit
In 2012, Inditex appointed the Deloitte Spanish member firm as auditors for the next three years, based on the group's assessment of Deloitte's comprehensive, global industry and functional expertise.
Based in Arteixo, Spain, Inditex is one of the world's largest fashion retail groups, with more than 110,000 employees and almost 300 companies operating in textile design, manufacturing, and distribution. Its more than 6,000 stores operate on five continents and include Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqüe.
Deloitte's breadth of knowledge of the retail industry was critical to Inditex. Other valued areas of expertise included:
- Deep technical and regulatory experience, as illustrated by the Deloitte Global IFRS and Offerings Services group
- Capacity to assemble a fully engaged, multicountry, and multidisciplinary team.
By tapping Deloitte's extensive cross-border and local experience in industry matters and ever-evolving regulatory and reporting requirements, Inditex is building a strong relationship that has all the markings of a tailor-made, custom fit.
High-quality audits and international competitiveness are closely linked. With more than two thirds of the G20 members requiring the use of the International Financial Reporting Standards, more countries will continue to adopt accounting standards to gain public trust and build confidence among investors globally.Annual Report 2011, International Financial Reporting Standards Foundation