EY plans global audit spinoff

© 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 did not immediately respond to



© 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 did not immediately respond to a Reuters request for comment.

Senior partners at the company have been discussing their options for a restructuring of its global operations, according to the report.

EY is one of the Big Four accounting firms, which includes Deloitte, KPMG and PwC.

The exact structure of the shake-up remains under discussion, the report said, citing one of the people.

Any overhaul would require a partner vote and broad agreement from the individual national member firms that form EY’s global business, it added.



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