EY revenues hit record highs as partners prepare to vote on global split November 1, 2022 EY’s UK business today posted record revenues of more than £3.2bn as partners at the Big Four firm prepare to vote on plans for a global split. The UK business’ revenues increased 17.2 per cent as the accountancy firm’s fee incomes were bolstered by a 33 per cent uptick in consulting revenues. A 15 per [...]
EY’s Israeli business opts-out of global split October 25, 2022 EY’s Israeli business will not participate in the accounting firm’s global split, but will instead retain its current structure under which auditors and consultants work together under a single umbrella. The Israeli firm’s managing partner Doron Sharabany told the Financial Times the firm does not see the benefits of EY’s separation plans. “From our point [...]
EY announces record intake of almost 1,500 students with 40 per cent in regional hubs October 12, 2022 Big four accountancy firm EY (Ernst & Young) has announced a new intake of almost 1,500 students, with two-fifths based in regional office. EY’s new cohort of 1269 graduates and more than 200 apprentices is a 35 per cent increase on the young cohort for 2021. The firm was the first to remove the requirement [...]
Grant Thornton triples paternity leave offering as talent war continues October 5, 2022 Grant Thornton has tripled the length of its paid paternity leave offering from two to six weeks as the UK’s top accounting firms have increasingly turned to offering staff perks and benefits in their efforts to recruit and retain talent. The accounting firm will offer its staff six weeks of paid paternity leave from [...]
Deloitte to let UK staff cash in on pensions with new flexibility policy October 3, 2022 Deloitte is set to let its UK staff take their pensions contributions as cash payments on top of their salaries as part of a new “flexible pensions” policy announced by the firm today. The accounting firm today told 22,000 of its UK staff it will let them receive cash payments on top of their pay [...]
Deloitte pays partners more than £1m each as consulting revenues surge September 30, 2022 Deloitte today said its 672 equity partners will take away average payouts of £1.06m each after a bumper year for its advisory business saw the Big Four accounting firm’s revenues surge 10 per cent to £4.9bn. The uptick in Deloitte’s UK revenues for the year running up to 31 May 2022 came as sales [...]
Junior KPMG auditor ‘should have questioned’ manager’s instructions, tribunal says September 27, 2022 A 25-year-old junior KPMG auditor, who copied meeting minutes into a document as part of a scheme to deceive the UK’s Financial Reporting Council (FRC), “should have questioned” his manager’s instructions, a disciplinary tribunal has said. Junior accountant Pratik Paw, who was asked to forge documents by his superiors during an FRC inspection of KPMG’s [...]
Liz Truss urged to ‘remain committed’ to audit reform September 26, 2022 One of the UK’s largest audit sector trade bodies has called on the UK’s new government to set out a “clear timetable” for its plans to overhaul the UK’s audit sector in claiming audit reform will play a vital role in securing long-term economic growth. Writing to UK prime minister Liz Truss, business secretary [...]
EY posts record revenues of £40bn as consulting sales surge September 21, 2022 EY today posted record revenues of $45.4bn (£40bn), on the back of its strongest growth in decades, as partners in the Big Four accounting firm prepare to vote on plans for a global split in what could be the biggest shakeup to audit sector in years. The accountancy firm saw its combined global revenues [...]
Deloitte to recruit 3,500 new consultants in £220m hiring spree September 20, 2022 Deloitte is set to hire 3,500 new consultants as part of £220m plans to capitalise on surging demand for advice as businesses seek to navigate the digital and green transitions. The hires will see the Big Four accountancy firm’s increase the size of its consulting workforce by 40 per cent over the next half a [...]