Ernst & Young: Pioneering Excellence in Professional Services

Ernst & Young, also known as EY, is a globally recognized professional services firm. They are renowned for their high-quality audit, assurance, tax, consulting, and advisory services. With an extensive network spread across 150 countries, EY helps clients manage risk, improve performance, and sustain the results. Their client base ranges from start-ups to Fortune 500 companies, providing personalized solutions to help businesses navigate their unique challenges and achieve growth. The firm's core values of integrity, respect, and teaming, as well as their commitment to building a better working world, set them apart in the industry.

Company Name	Ernst & Young (EY)
Type	Limited liability partnership
Industry	Professional services
Founded	1989 (by merger)
Headquarters	London, United Kingdom
Area Served	Worldwide
Services	Assurance, Tax Advisory, Consulting, Financial Advisory
Number of Employees	270,000 (as of 2020)
Revenue	$37.2 billion (2020)
Key People	Carmine Di Sibio (Global Chairman & CEO)
Website	www.ey.com
Subsidiaries	Parthenon-EY, EY-Parthenon, EY Seren, EY Law.
Operating Income	$2.03 billion (2020)
Total Assets	$21.4 billion (2020)
Total Equity	$7.6 billion (2020)

Global Presence

One of the key aspects to consider when choosing Ernst & Young is their global presence. With operations in over 150 countries, they have a diverse and comprehensive understanding of different market dynamics, which can be instrumental for businesses operating or looking to expand internationally. Read more

Service Range

Ernst & Young offers a wide range of services, including assurance, tax, consulting, and strategy services. This makes them a one-stop-shop for all your business needs, reducing the need for multiple service providers and ensuring consistency and quality in service delivery. Read more

Industry Expertise

Ernst & Young boasts deep industry expertise across a variety of sectors. Their professionals come from diverse industry backgrounds, bringing with them a wealth of knowledge and experience that can be leveraged to provide unique insights and solutions for your business. Read more

Technology-Driven Solutions

In this digital age, Ernst & Young is at the forefront of integrating technology into their service delivery. They use advanced analytics, AI, and machine learning to provide innovative solutions that can help your business stay ahead of the curve. Read more

Quality Assurance

Ernst & Young is renowned for their commitment to quality. They have robust quality control systems in place to ensure that their services meet and often exceed the highest industry standards. Read more

Client-Centric Approach

At Ernst & Young, the client is at the center of all they do. They strive to understand your business and its unique needs, and tailor their services to provide personalized solutions that drive value for your business. Read more

Thought Leadership

Ernst & Young is a thought leader in the world of business and finance. They regularly publish insightful reports, articles, and studies, providing valuable insights and foresight on emerging trends and issues that can affect your business. Read more

Proven Track Record

Ernst & Young has a proven track record of delivering results for their clients. Their long list of satisfied clients, which includes many Fortune 500 companies, is a testament to their ability to deliver on their promises. Read more

Corporate Responsibility

Ernst & Young is committed to making a positive impact on society. They have strong corporate responsibility initiatives in place, focusing on areas such as education, entrepreneurship, and environmental sustainability. Read more

Investment in People

Ernst & Young's greatest asset is their people. They invest heavily in talent development, providing their professionals with the training and resources they need to grow and succeed. This commitment to their people translates into high-quality services for their clients. Read more

Facts

1. Global Reach: Everywhere, Always:

Ernst & Young, known as EY, is a multinational professional services firm with its headquarters in London, England. With operations in more than 150 countries, EY is truly a global brand. No matter where you are, there's a high chance you'll find an EY office nearby. In fact, EY is one of the Big Four accounting firms, providing audit, tax, consulting, and advisory services to companies all over the world.

2. EY's Origin Story: A Tale of Mergers and Acquisitions:

Ernst & Young was born out of a series of mergers. It was originally founded as two separate companies: Ernst & Ernst in the US and Whinney Smith & Whinney in the UK. The two firms merged in 1989 to form Ernst & Young, creating a transatlantic powerhouse in the professional services industry.

3. EY's Renowned Audit Services:

When it comes to audit and assurance services, EY is a name that commands respect. The firm's auditors provide independent attestation that the financial statements of corporations are accurate and complete. This is crucial for investors, regulators, and the public who rely on these statements to make informed decisions.

4. Leading the Pack in Advisory Services:

EY is not just about number-crunching. The company also provides a wide range of advisory services to help businesses manage risk, improve performance, and realise the value of their projects. From cybersecurity to real estate advisory, EY's broad range of services provides a one-stop-shop for business solutions.

5. Innovation at EY: Embracing Technology:

EY is at the forefront of embracing technology in the professional services sector. The company uses cutting-edge technology such as AI, blockchain, and data analytics to provide better services to its clients. EY's innovative approach has set it apart from competitors and positioned it as a leader in the industry.

6. EY's Commitment to Diversity and Inclusion:

EY is known for its commitment to diversity and inclusion. The firm believes that diverse perspectives lead to better answers for its clients and a better working world. EY has been recognized multiple times for its commitment to diversity, including being ranked as one of the top companies for diversity by DiversityInc.

7. EY's Sustainability Efforts:

EY is deeply committed to sustainability. The firm has made significant strides in reducing its carbon footprint and promoting sustainable business practices. EY's sustainability services help businesses address the growing demand for transparency in environmental, social, and governance reporting.

8. Building a Better Working World Slogan:

Building a better working world is more than just a slogan for EY. It's the firm's purpose. Through its services, EY aims to build trust in the capital markets, encourage sustainable growth, develop talent in all its forms, and foster collaboration and innovation.

9. EY’s Global Review:

Every year, EY publishes a Global Review that provides insights into the firm’s global network, its performance, its people, and its commitment to building a better working world. In these reviews, EY transparently shares its successes, challenges and future plans.

10. The EY Brand:

With its distinctive yellow logo, EY is a recognized brand worldwide. The EY brand stands for integrity, reliability, and a commitment to providing excellent professional services. With over a century of history, EY continues to be a trusted advisor to many of the world’s most admired companies.

Vocabulary

Accounting – The process of systematically recording, measuring, and communicating information about financial transactions.

Audit – An official inspection of an organization's accounts, typically by an independent body.

Assurance – An independent professional service aimed at improving the quality or context of information for decision makers.

Advisory – Consulting services provided by Ernst & Young to help businesses improve performance and efficiency.

Transaction Advisory Services – Assisting businesses with mergers and acquisitions, restructuring, and funding.

Big Four – Refers to the four largest international professional services networks offering audit, assurance, tax, consulting, advisory, actuarial, corporate finance, and legal services. Ernst & Young is one of them.

Tax Services – Helping businesses meet their tax obligations, while managing the impact of tax on their operations and transactions.

EY Global – The worldwide organization of Ernst & Young.

EY Parthenon – Ernst & Young's global strategy consulting team.

Professional Services – Services provided by professionals with a high degree of specialized knowledge or skills.

Financial Accounting – The field of accounting concerned with the summary, analysis, and reporting of financial transactions related to a business.

Corporate Finance – The area of finance that deals with sources of funding and the capital structure of corporations.

EY Foundation – A charity that works with disadvantaged young people to help them find alternative routes into work, education or enterprise.

EY Entrepreneur Of The Year – An annual awards program that recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities.

Business Ethics – The study of appropriate business policies and practices regarding potentially controversial issues.

Risk Management – The practice of identifying, assessing, and controlling threats to an organization's capital and earnings.

Financial Audit – A check of the accuracy of a company's financial records.

Internal Audit – A function that provides independent assurance that an organization's risk management, governance and internal control processes are operating effectively.

External Audit – An audit performed by an outside firm to ensure that the subject company's financial statements are free from material misstatements.

EY Global Delivery Services – Provides standardized, consistent and cost-effective services across the globe.

EY wavespace – A network of growth and innovation centers, where EY teams and clients come together to explore new ways of working.

EY Canvas – Ernst & Young's global audit digital platform.

EY Helix – The firm's suite of data analytics tools for auditors.

EY Client Portal – A secure, password protected portal providing clients with access to EY's services.

EY Law – A global legal network comprised of legal professionals working in member firms of Ernst & Young Global Limited.

EY Finance Navigator – An online financial planning tool designed specifically for startups.

EY-7 Drivers of Growth – A framework to help companies align their capabilities with their growth strategies.

EY CogniStreamer – An open innovation and collaboration platform.

EY ITEM Club – An economic forecasting group within EY that provides macroeconomic forecasts for the UK.

EY Training – Provides professional development and learning opportunities for EY employees and clients.