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Accenture

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Accenture plc
Company typePublic limited company
ISINIE00B4BNMY34
Industry
Founded1989; 35 years ago (1989)
HeadquartersDublin, Ireland
Area served
Worldwide
Key people
Julie Sweet (chair and CEO)
RevenueIncrease US$64.11 billion (2023)
Decrease US$8.81 billion (2023)
Increase US$7.00 billion (2023)
Total assetsIncrease US$51.25 billion (2023)
Total equityIncrease US$26.46 billion (2023)
Number of employees
733,000 (2023)
Websitewww.accenture.com

Accenture plc is an Irish-American professional services company headquartered in Dublin, Ireland, that specializes in information technology (IT) services and consulting. A Fortune Global 500 company, it reported revenues of $64.1 billion in 2023.[1]

History

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Formation and early years

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Accenture began as the business and technology consulting division of accounting firm Arthur Andersen in the early 1950s.[2] The division conducted a feasibility study for General Electric to install a computer at Appliance Park in Louisville, Kentucky, which led to GE's installation of a UNIVAC I computer and printer, believed to be the first commercial use of a computer in the United States.[3][4]

Split from Arthur Andersen

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In 1989, Arthur Andersen and Andersen Consulting became separate units of Andersen Worldwide Société Coopérative (AWSC). Throughout the 1990s, tensions grew between the two units. In 2000, as a result of arbitration, Andersen Consulting broke all contractual ties with AWSC and Arthur Andersen. As part of the arbitration settlement, Andersen Consulting paid $1.2 billion to Arthur Andersen and changed its name to Accenture.[5]

Incorporation and public listing

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Accenture was incorporated in Bermuda in 2001. On 19 July 2001, Accenture's initial public offering (IPO) was priced at $14.50 per share, and the shares began trading on the New York Stock Exchange.[6]

Reincorporation in Ireland

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On 26 May 2009, Accenture announced that its board of directors unanimously approved changing the company's place of incorporation from Bermuda to Ireland.[7]

Services and operations

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Accenture's business is organized into five segments:

  1. Strategy and Consulting
  2. Interactive
  3. Technology
  4. Operations
  5. Industry X

The company provides services to clients in various industries, including communications, media and technology, financial services, health and public service, consumer products, and resources.[8]

Corporate affairs

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Leadership

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Julie Sweet has served as CEO of Accenture since 1 September 2019.[9]

Employees

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As of 2023, Accenture reported having approximately 733,000 employees.[1]

Finances

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For the fiscal year ended August 31, 2023, Accenture reported:[1]

  • Revenue: $64.11 billion
  • Operating income: $8.81 billion
  • Net income: $7.00 billion
  • Total assets: $51.25 billion
  • Total equity: $26.46 billion

Controversies

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Data breach

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In August 2021, Accenture confirmed a data breach due to a ransomware attack, which reportedly led to the theft of six terabytes of data.[10]

Tax practices

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In 2019, Accenture paid $200 million to Swiss authorities over tax claims related to transfer pricing arrangements.[11]

Employment practices

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In March 2023, Accenture announced plans to eliminate 19,000 jobs over 18 months, citing reduced revenue forecasts.[12]

Content moderation

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Accenture has faced criticism for its role in content moderation for social media platforms, with concerns raised about the impact on workers' mental health.[13]

References

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  1. ^ a b c "Accenture Annual Report for Fiscal Year 2023". US Securities and Exchange Commission. 12 October 2023. Retrieved 13 October 2023.
  2. ^ "Accenture To Add 500 Jobs in Chicago". WBBM-TV. 11 October 2011. Retrieved 10 December 2015.
  3. ^ Betts, Mitch (29 January 2001). "GE's Appliance Park Still an IT Innovator". Computerworld. Retrieved 10 December 2015.
  4. ^ Betts, Mitch (2 July 1990). "The Univac I: First in the field". Computerworld. Retrieved 10 December 2015.
  5. ^ Martin, Mitchell (8 August 2000). "Arbitrator's Ruling Goes Against Accounting Arm : Consultants Win Battle Of Andersen". The New York Times. New York City. Retrieved 1 March 2014.
  6. ^ "Accenture IPO gains in first trades". CNN Money. 19 July 2001. Retrieved 4 December 2015.
  7. ^ "Accenture Newsroom: Accenture Announces Proposed Change of Incorporation to Ireland". newsroom.accenture.com. 26 May 2009. Retrieved 6 August 2010.
  8. ^ "Fact sheet". Accenture. Retrieved 24 February 2020.
  9. ^ "Accenture Appoints Julie Sweet Chief Executive Officer and Names David Rowland Executive Chairman, Effective Sept. 1, 2019". accntu.re. 11 July 2019. Archived from the original on 13 July 2019. Retrieved 17 July 2019.
  10. ^ "Accenture confirms data breach after August ransomware attack". BleepingComputer. 15 October 2021. Retrieved 10 August 2024.
  11. ^ "Accenture settles Lux Leaks tax claim for $200m". International Consortium of Investigative Journalists. 26 February 2017. Retrieved 10 August 2024.
  12. ^ Anghel, Irina; Boyle, Matthew (23 March 2023). "Accenture Shares Jump After Plan to Slash 19,000 Jobs". Bloomberg.com. Retrieved 23 March 2023.
  13. ^ "The Trauma Floor: The secret lives of Facebook moderators in America". The Verge. 25 February 2019. Retrieved 10 August 2024.
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