EY plans global audit spinoff
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© Reuters. The logo of Ernst & Young is seen in Zurich, Switzerland November 13, 2020. REUTERS/Arnd Wiegmann/Files(Reuters) – Accounting firm Ernst & Young is planning to split its audit and advisory operations worldwide, the Financial Times reported on Thursday, citing three people with knowledge of the plans.
EY has not yet responded to Reuters’s request for comment.
The report states that senior partners in the company discussed their options regarding a restructuring of global operations.
EY is among the Big Four accounting companies, including Deloitte and KPMG, as well as PwC.
According to the report, one person is still unsure about the exact structure of this shake-up.
The EY Global Business Group would need to vote in partnership and have broad support from all the national members firms.
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