In an interview with the Financial Times, the head of the world's largest accountancy firm said Deloitte's decision not to follow the rest of the Big Four in selling or breaking from their main consultancy practices could "send the wrong message".

The spinoffs were implemented in response to widespread criticism over conflicts of interest within the industry.

"I'm surprised (Deloitte) reached that conclusion. We felt that the market was sending a clear message," DiPiazza said.

Deloitte said it would not offer banned consultancy services to its existing audit clients, and is committed to compliance with all new regulations, the newpaper added.