New York, Feb 16: Deloitte Touche Tohmatsu , the world's No 2 accounting firm, on Saturday said that its board of directors named William Parrett, from its US unit, as its new global CEO. Parrett, managing partner of Deloitte & Touche LLP, the company's US unit, and Deloitte's Americas practice, would take over at a tumultuous time for the accounting industry, which has been battered by scandals involving bankrupt energy company Enron and other companies.

In an interview from his Connecticut home, Parrett said: "At the end of the day, the investing public has to be able to rely on the information it receives from the companies, and have a better understanding of the role of the auditor."
"It may very well be that as a profession, we will be required to do even more by the investing public than we are doing today," he added. "I am confident we will be able to meet this challenge over a period of time."

The 36-year Deloitte veteran would replace James Copeland, who resisted changes in the industry following the scandals. Copeland plans to retire at the end of May when his contract expires to spend more time with his family. Bureau Report