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Ernst & Young LLP is the US member firm of Ernst & Young Global,
one of the Big Four accounting firms, which includes
KPMG
PricewaterhouseCoopers LLP
Deloitte
Ey Logo
On July 1, 2013 EY unveiled their new logo and new name. They
changed their name from Ernst and Young to just EY. They stated in
a press release that they feel the new EY logo reflects the traits
needed in order to have the best brand in public accounting.
1. Introduction
2. Employer Questions
3. Evaluation
4. Your Questions
5. Close
6. Follow up
On Ey’s site they say that you typically have to meet with two EY
people during the interview process so be prepared for that.
EY REVENUE
EY revenue for 2017 exceeded $31.4 billion. This keeps them
ranked as the number 3 accountancy firm in the world.
EY made $29.6 billion for their fiscal year ended 2016. That makes
them the third largest public accounting firm in the world.
EY’s revenues totaled $28.7 billion for their 2015 fiscal year. Of
the $28.7 billion in revenue, $11.3 billion came from Assurance.
$7.5 billion came from tax. $7.3 billion came from advisory and $2.5
billion came from transaction advisory services.
EY Number of Employees
EY has 231,000 employees working across its member firms as of
2016. That makes them the second largest accounting firm by
number of employees.
They will still be hiring in the typical accounting fields of audit, tax
and advisory though.
Ernst & Young also mentioned that they are look for candidates that
are ethnically diverse and women. They said that they apply a 3
pronged approach to helping women and ethnically diverse women
advance in their careers.
EY Services
Ernst and Young provides assurance, tax, auditing, advisory,
enterprise risk management, and technology and security risk
services to public and private companies in the various sectors such
as:
automotive,
energy,
chemicals,
financial services,
health,
real estate,
entertainment
EY Offices
EY is moving their NY Headquarters
Ernst and young will be opening a new office in San Antonio where
600 new jobs will be created. Ey received a tax incentive to locate
new jobs in San Antonio Texas.
What’s weird is that the jobs will not be accounting jobs. They will
be jobs created for English majors, psychology majors and criminial
justice majors. The reason for this is because EY will use the
location as a financial services client delivery service center. This
means they will be outsourcing back office functions to this location.
EY has 6 years to add the jobs in order to receive the tax incentives.
The tax incentives could be worth about $3 milion. EY will spend
about $ 8 million to finish development and furnish the site.
EY Partnerships
Ernst and Young blockchain partnership with SAP Leonardo
EY is extending its relationship with SAP to build out blockchain
solutions on various SAP ERP platforms. The specifics of the
partnership are that EY will use SAP’s Leonardo platform.
One product that has already been developed is EY’s Ops Chain
which is designed to ehlp customers manage their supply chain. It
uses smart contracts developed on the blockchain to manage
ownership in the supply chain.
4. Ernst & Young lines of service – Ernst & Young has tax,
assurance, and advisory lines of service.
5. What does Ernst and Young do? – Ernst & Young LLP is
primarily an audit firm which means they are responsible for
auditing the financial statements of various companies. They
also offer tax services and consulting services to their clients.
6. Who audits Ernst & Young? Ernst & Young is audited by the
PCAOB. The PCAOB stands for the Public Company
Accounting Oversight Board.
7. Where can I find the Ernst and Young Stock Price? Many
people ask about the Ernst and Young stock price or the Ernst
and Young share price. Unfortunately, Ernst & Young is not a
publicly traded company, so it does not have a stock price.
8. Ernst and Young Fortune 500 ranking – Ernst and Young did
not make the Fortune 500 ranking in 2015.
SERVICES
TAX
For today’s tax function to be fit to operate in the future, it has to be connected. EY’s
Connected Tax offers both a blueprint and a business platform for building a future-proof
tax function that can help you respond to demands.
If your organization is looking to drive value, manage costs and mitigate risk, EY
Connected Tax can help you design and implement the effective means of operating
a business tax function. We help define what it means to operate “best in class” and
“best in cost,” with a blueprint for dividing functional activities to reach the desired
result — from technology to talent.
We have both a blueprint and a business platform for building the kind of future-
proof tax function that helps you respond to demands, while also laying the
groundwork for a transformed tax function fit for ongoing change.
Tax planning
Today’s tax planning blends technology and business acumen to focus on consistency,
compliance and the organization’s strategic objectives.
Careful tax planning is critical for business success in an unpredictable global
economy. Tax planning is also necessary for individuals who face their own
challenges owning, managing and preserving businesses and wealth in a complex
regulatory environment.
Our professionals help you get the numbers right by preparing tax accounting
calculations, researching technical issues and reviewing transactions, accounting
entries and adjustments that may have tax consequences.
Tax compliance
Complying with tax laws and regulations that are constantly changing is a challenge.
We can help from tax filing to tax planning.
For global businesses, accurate tax compliance is an instrumental piece of the tax
puzzle. Getting this piece right is increasingly complicated because of the rapid pace
of legislative and regulatory change, and the increasing digitalization of revenue
authorities.
Additionally, staying current on tax developments at the local and national level,
while meeting the demands needed for more transparency and financial information,
strains the resources of tax departments and further complicates tax compliance.
Our network of Business Tax Compliance professionals can help you prepare,
manage and execute on tax filings within this shifting regulatory environment.
Businesses must act so that their people, policies and systems are keeping pace. They
need a line of sight into the issues and the potential for future conflicts, as well as a
centralized global strategy. Should disagreements arise, having resources that can act
as a “bridge” between the tax authorities and the company is essential.
Here, you’ll find information to help you navigate this interconnected environment,
including leading practices for implementing a globally integrated approach to tax
controversy management.
Law
We can provide you with the detailed guidance you need to navigate the increasingly
complex legal environment of the global economy.
Our lawyers understand the complex tax, regulatory and commercial laws of today’s
economy. With our multidisciplinary, one-stop shop approach, we help reduce the
gap between business advisors and legal counsel, increasing efficiency and speed
to market, while reducing costs.
Do you change your people, or change the way your people work?
In the face of the disruptive forces changing the working world, organizations need
to become much more adaptable to rapid change — and they need their people to
be flexible and agile to match, at a time when it’s getting harder to source, manage,
motivate and retain talent while controlling costs.
EY People Advisory Services professionals can help you effectively harness your
people agenda as part of an integrated business strategy. This can translate into
competitive advantage by helping you get the right people, with the right capabilities,
in the right place, for the right cost, doing the right things.
US tax reform
The implications of the US Tax Cuts and Jobs Act don’t stop at US shores. Do you
understand the effects on your business?
When the US enacted the first major overhaul of its federal income tax system in
more than 30 years, US tax reform became a consideration for all businesses
globally.
The law ushered in lower tax rates, revisions to the international tax system and
other significant changes with widespread business implications.
Our insights can help flatten the learning curve and put this legislation into
perspective - wherever in the world you work.
ADVISORY
Emerging technologies
The advent of emerging tech is recasting all industries and requires leaders to embrace
new capabilities to turn new tech into new competitive advantage.
As stand-alone solutions, many emerging technologies are quite compelling, and
adoption rates are accelerating in areas such as robotic process automation and the
internet of things. Others, like additive manufacturing, artificial intelligence and
blockchain, are still being explored for their potential to deliver business value at
scale.
As it transforms, your organization can unlock real value through the combination of
emerging technologies to provide business impact through convergence. You need
to build out capabilities and skills to provide “venture-as-a-service,” and develop
agile and dynamic ecosystems to help with the development and implementation of
new solutions and business models. Take a look through EY insights on this topic of
pressing concern to EY clients.
Used the right way, data and augmented intelligence can create competitive advantage,
re-engineer processes and enhance risk controls.
Technology-savvy organizations, as well as “digital non-natives,” can benefit from
analytics and augmented intelligence across all disciplines by using an infusion
strategy.
Infusion means that by embedding analytics and artificial intelligence (AI) into the
very core of your business processes, we can help you drive capital allocation
strategies and investment decisions, create an end-to-end digital audit, generate
new revenue opportunities, manage risk, conduct investigations, measure financial
and nonfinancial performance, capture tax big data to inform decisions, increase
customer satisfaction, and improve the customer experience.
Customer
Cybersecurity
Performance Improvement can help your organization achieve its strategic goals — and
then sustain that improvement in the long term.
Performance improvement (PI) can help you solve the ever more complex
challenges and issues that are prevalent as businesses seek to transform
themselves in the digital age. We work with you to reimagine or transform your
business purpose and model; create growth; manage cost and efficiency; respond to
market pressures and regulation; and resolve operational challenges.
We also routinely combine our capabilities with those of our colleagues in risk, tax,
transactions and assurance to design offerings that are unique in the market.
Risk
Discover how leading risk management practices create value and a competitive
advantage by embracing disruption with trust and confidence.
Successful organizations know that risk can come from every angle — upside,
downside and outside — and can be hard to see, anticipate and respond to. But
they are embracing these risks, updating their risk functions and sharing risk
intelligence to generate fresh value through aggressive innovation that gives them a
competitive advantage.
The interplay between upside and downside risk is important to understand the long-
term decisions being made to prevent risk and how that impacts an organization’s
ability to meet its future business strategy and objectives. Learn how best-in-class
risk management will create value through driving confidence in achieving strategic
objectives and maintaining stakeholder trust.
Strategy
In today’s fast-paced world, C-suite and business leaders must truly be effective at
driving value creation across their organization.
In today’s complex environment — with a preponderance of data, 24/7 news cycles,
volatile geopolitical events and a fluctuating global economy – setting and executing
a strategy to optimize the value of an organization has never been more challenging.
CEOs need to consider and take bold and transformative steps such as redefining
their organization’s purpose, embarking on end-to-end digital transformations,
pursuing and optimizing inorganic growth strategies, defining and implementing
organic growth strategies, learning how to achieve disruptive innovations,
understanding and acting upon changing customer and market dynamics, optimizing
their supply chain and setting their global tax agenda.
ASSURANCE
Audit
Our auditors use their knowledge, skills and experience, along with advanced
technologies, to provide audits of high quality.
Audits are the fundamental building block of effective capital markets. Our audit
work provides quality, integrity, technical excellence, exceptional service and a broad
understanding of financial and nonfinancial factors.
High-quality audits enhance trust and confidence in the capital markets and facilitate
economic growth. We employ more than 85,000 audit professionals worldwide and
offer an analytics-driven audit, powered by leading-edge technology, including our
three foundational audit technologies:
Audit quality
We can support you in building an effective and efficient finance function with a range of
accounting, reporting and analytics services.
EY’s FAAS teams support you in determining, monitoring and disclosing financial
and nonfinancial insights for your stakeholders. FAAS addresses the CFO’s agenda
and provides CFOs, controllers, treasurers and audit committees with insight and
services to support compliance with evolving financial requirements and help
provide transparency and trust in reporting to support better decision-making. We
also help to support finance functions with robust financial data analytics and
innovation through our tools.
Our multidisciplinary teams can help companies understand the risks and opportunities
arising from climate change and sustainability issues.
In order to survive and grow in an increasingly competitive and accountable
business environment, organizations are required to report not only on their financial
performance, but also their nonfinancial performance.
Ignoring sustainability, environmental, health and safety (EHS) and climate change
risks and stakeholder concerns around these issues is no longer an option. While
CFOs may not have traditionally led the way, they are increasingly expected to play
a more active role.
EY’s global Climate Change and Sustainability Services (CCaSS) teams understand
the evolving pressures surrounding these challenges. As a result, they can help
companies to respond by understanding and evaluating the broader value impacts
and outcomes, identifying the opportunities, and supporting the reporting of
nonfinancial performance risks to their stakeholders.
Sustainable Impact Hub
The Sustainable Impact Hub provides leading-edge thinking and insights relevant to
organizations and businesses that are seeking to create impact and accelerate their
organizational journey.
Organizations are operating in an increasingly complex business environment. In
this climate of uncertainty, they are recognizing the benefit of understanding and
evaluating their broader value impacts and outcomes — beyond financial results.
Explore our global viewpoints below on some of the key issues our clients are
currently facing. We’d be delighted to hear your views, and our team of
professionals is ready to discuss how EY can help you address these issues.
Assurance
Includes understanding the key business and financial risks facing our clients and the
markets they operate in, reviewing processes, designing tests and verifying accounting
treatments and numbers, all whilst complying with accounting and auditing standards. If
you’re an information-hungry, data-driven, hyper-organised week divided into 15 minute
slots kind of person, we want you to apply for our Graduate Programme in Assurance.
Advisory
Is the consulting branch of EY. Our clients rely on our Advisory team’s expert knowledge
to advise on a broad range of issues across a variety of industries. We offer guidance to
companies looking to grow or change, or improve performance. Advisory is a fast-
moving, high-growth area that reflects the challenges and uncertainty of today’s world.
We look for people with commercial acumen who are inquisitive, analytical and
ambitious. You’ll need to challenge us, act on your own initiative and demonstrate the
potential to become a future business leader. If this sounds like you, we want you to
apply for our Graduate Programme in Advisory.
Tax
Offers one of the most exciting, challenging and rewarding careers out there.
Companies today face increasingly complex tax and regulatory changes, which means
our role as trusted advisors is more important than ever. Our clients rely on our Tax
team’s extraordinary understanding to best manage their assets and ensure they’re
being taxed properly. If you are passionate and possess an insatiable hunger for
knowledge we want you to apply for our Graduate Programme in Tax.
TAS
Have a particularly exciting job of advising clients on when and how to buy, sell or
merge companies in order to improve growth, competitiveness and profitability. TAS
supply the data, highlight the risk and guide the client through the potentially perilous
forest of capital transactions. If you’re a strategic thinker, thirsty for knowledge, and
insatiably curious, we want you to apply for the Graduate Programme in TAS.
Offers you a broad foundation from which to launch your career in business and
technology. You will have the opportunity to experience and make a difference to the
vast swathe of technical aspects of our company. This will include working in teams
tackling issues surrounding IT Risk and Assurance as well as the challenges of enabling
change within large organisations through IT solutions. Examples of the work we do for
clients include data analytics projects ranging from corporate fraud investigation, audit
and compliance analytics, big data analytics or simply designing and developing
intelligent solutions to solve our clients’ complex data challenges. If you are of a
technical disposition, enjoy being challenged daily and thrive on variety, we want you to
apply to our Graduate Programmes and work with us in IT or Data Analytics.
Risk
Forms part of our Advisory services. Every challenge and every opportunity an
organisation faces today demands change. And with change comes risk. Some risks you
can see, some you can predict, some you can plan for, and some you can't. EY’s Risk
team helps solve big, complex industry issues and capitalise on opportunities to help
deliver outcomes that grow, optimize and protect our clients' businesses. EY’s Risk
programme gives graduates the opportunity to gain the Chartered Accounting
qualification within an Advisory setting. We look for people with commercial acumen
who are inquisitive, analytical and ambitious. If this sounds like you, we want you to
apply for our Graduate Programme in Risk.
Our people are often part of internationally focused teams which mirror our clients’
global operations. They work in borderless and highly diverse teams on a daily basis to
deliver the best results for our clients. At EY, you can build one of the best foundations
for a fulfilling and truly rewarding career. For those who are insatiably curious, and look
to soak up as much as they can, this is where you want to be.
ICT vs FS
In order to reflect the way our clients specialise, and for us to deliver the best industry
specific services, we structure our business in Ireland into two areas: one focuses
exclusively on the financial services industry, and the other encompasses all other
industries.
Upon joining EY you will become part of either the Industrial, Commercial,
Technological (ICT) team, headed up by Frank O'Keefe, or our Financial Services
Organisation (FSO) team led by Eoin McManus. So, what’s the difference? It’s all
about the industries you will be working in.
Our Financial Services Organisation (FSO) offer services to our clients in the Financial
Services sector, including Global and Domestic Banks, pharmaceutical, government,
Insurance companies, some of the world’s largest Wealth and Asset Management firms
and Private Equity Houses, as well as specialist areas such as Aircraft Leasing firms and
Credit Card processing. The FSO team in Ireland is directly linked to FSO in EMEIA
(Europe, Middle-East, India & Africa).
In-depth Analysis of EY
EY is the third largest of the Big 4 and the 9th largest privately owned company in the U.S. EY
officially changed its name from Ernst & Young in 2013.
EY is headquartered in London, UK and is chaired by Mark Weinberger. This is our “EY/Ernst &
Young Wiki.”
EY Revenues, Clients and Global Reach
EY earned revenues of $31.3 billion in 2017, an increase of 9.2% on the prior year. Like PwC, EY is
very focused on audit, with over 39% of its revenues coming from its assurance service line.
In addition to audit, EY also has the second largest tax practice after PwC.
Despite lower revenues, EY employs more people (230,800) than PwC. They also increased their
headcount by 9.2% in 2017.
EY audits 23% of the Fortune 500 and provides some level of service to almost 80%. While still a
network of individual firms, EY is the most globally managed of the Big 4. They retain a strict
structure across the world with a Global board overseeing all policy and consistency of service.
EY Work Culture
EY is in many ways a mini-PwC. They are a more traditional accounting firm than either Deloitte or
KPMG. EY is highly focused on their core competencies of audit and tax (they have the second
largest audit and tax practices after PwC).
Like PwC, EY has significant long term relationships with many large clients. They pride themselves
on the length of their relationships, some lasting more than 70 years.
EY would be a good fit for anyone also considering joining PwC.
Another good point to remember about EY is that they structure their graduate hiring programs a
bit differently too. New hires typically do rotational programs for 1-2 years in different specialisms.
Corporate responsibility
At EY, we’re using our skills, knowledge and experience to address some of the biggest
social challenges of our time.
We believe business must do more to foster sustainable inclusive growth. It’s why
we’ve created EY Ripples – a global platform that brings greater scale and sharper
focus to our efforts to strengthen our communities.
Through EY Ripples, we focus on supporting the next generation and working with
impact entrepreneurs. By working with these groups, we apply our skills where they
can make the biggest difference, extending the value of EY knowledge, networks
and services to people we might not otherwise reach.
This is the first step on a multi-year journey to positively affect the lives of millions of
people. Because when 270,000 EY people feel inspired to start ripples – and theirs
merge with those of other like-minded people and organizations – together, we can
create huge waves of change.