BERLIN, Dec. 30 (Xinhua) — The market value of the world’s 100 most valuable listed companies rose 29 percent to a new record of $36.5 trillion over the course of 2023, according to an analysis by the auditor published on Friday – and consulting company EY Germany. According to EY, the “record hunt” on the … Read more
Dec 30, 2023 at 6:47 AM Update: an hour ago The curator of the bankrupt payment processor Wirecard from Germany has started a lawsuit against Ernst & Young (EY). The accounting firm is accused of shortcomings in audits. EY accountants were responsible for auditing Wirecard’s annual figures. The curator accuses them of long-term systematic shortcomings … Read more
EY (Ernst & Young), one of the world’s largest professional services firms, has recently announced its plan of cutting 3,000 jobs in the United States. According to the company, the move is aimed at eliminating ‘overcapacity’ and optimizing the workforce. This news comes at a time when the COVID-19 pandemic has resulted in a global … Read more
Ernst & Young (EY) UK has been warned to prepare for potential staff exits and cost cuts in the aftermath of the firm’s failed split. Earlier this year, EY UK announced that it would separate its audit and consulting businesses in response to growing regulatory scrutiny in the sector. However, the planned split was met … Read more
The search is on for the next generation of trailblazing entrepreneurs as the shortlist for the 2023 EY Entrepreneur of the Year awards has been announced. The awards program celebrates exceptional leaders who have demonstrated exceptional vision, innovation, and ambition in their entrepreneurial journey. This year’s competition promises to be as exciting as ever, featuring … Read more
Germany’s audit watchdog, the Financial Reporting Enforcement Panel (FREP), has banned Ernst & Young (EY), one of the world’s largest accounting firms, over its work for Wirecard. This is a significant move by the regulator as it marks the first time a company of such prominence has been banned from working as an auditor in … Read more
Forecast for 2023 EY analysts assume that more and more individuals and businesses will be unable to repay their loans in the coming year. (Photo: imago/Ikon Images) Frankfurt According to a study, high energy prices and weakening demand will significantly slow down lending in the coming year. Business loans would drop in a particularly marked … Read more
Adidas-Chef Kasper Rorsted, Mercedes-Benz, Fresenius, BASF, RWE Many German companies are currently correcting their forecasts – both upwards and downwards. – (Photo: Fresenius, BASF, dpa) – – – – Düsseldorf On Tuesday, the division of the German economy became apparent within a few minutes. First, wind turbine maker Siemens Gamesa scaled back its revenue and … Read more
The auditing and consulting giant EY is working to divide the entire group – valid globally – reports Financial Times and refers to sources with knowledge of the plans. Such a division would be the largest reorganization of one of the four major auditing and consulting companies in two decades, according to the newspaper. Apparently, … Read more
New BCG Germany boss Michael Brigl: The private equity expert has headed the Germany unit of the US consultancy since the beginning of the year – (Foto: Boston Consulting Group) – – – – Düsseldorf The pandemic year 2021 was one of the most successful ever for the management consultancy Boston Consulting Group (BCG). The strategy … Read more