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Accounting Sector

All articles tagged with #accounting sector

business2 years ago•1 min saved

Ernst & Young Implements Major Job Cuts and Delays for New Hires in US Division

Ernst & Young is laying off dozens of partners in its US offices, impacting over 10% of partners in consulting and around 4% in strategy and transactions. The layoffs come as the accounting sector faces declining revenues and after the company abandoned plans to split its auditing and consulting units. This follows similar job cuts by other "Big Four" accounting firms, including KPMG and Deloitte. The move is part of EY's long-term transformation strategy to focus on areas of greatest client needs.

via New York Post |

#accounting-sector #business #declining-revenues

business2 years ago•1 min saved

EY abandons plan to split audit and consulting units after opposition.

Accounting firm EY has abandoned its plan to split its audit and consulting units, which was aimed at addressing regulatory concerns over potential conflicts of interest. The plan, known as "Project Everest", faced resistance from some of EY's partners. The UK's Financial Reporting Council had asked the Big Four firms to separate auditing as a standalone business in Britain by June 2024.

via Reuters|

#accounting-sector #audit #business