EY Wiki 2020 (What is Ernst & Young?) - Big 4 Accounting Firms

EY first became Ernst & Young LLP in 1989 when Ernst & Whinney and Arthur Young & Co. merged. Ernst & Young can trace their roots all the way ... SkiptocontentEYWiki2020(WhatisErnst&Young?)big4accountingfirms2020-10-28T17:55:29+00:00EYWikiNeedhelpwithyourbig4interview?Letushelpyouwithourbig4interviewcourse!!!Big4InterviewCourseWecovermultiplesubjectsonthispageincludingsomebackgroundaboutEY,theirrevenues,numberofemployees,usefullinks,FAQs,ErnstandYounginterviewprocessandafewotherthings.AboutErnst&YoungErnst&YoungLLPistheUSmemberfirmofErnst&YoungGlobal,oneoftheBigFouraccountingfirms,whichincludesKPMGPricewaterhouseCoopersLLPDeloitteEYLogoEyLogoOnJuly1,2013EYunveiledtheirnewlogoandnewname.TheychangedtheirnamefromErnstandYoungtojustEY.TheystatedinapressreleasethattheyfeelthenewEYlogoreflectsthetraitsneededinordertohavethebestbrandinpublicaccounting.ErnstandYoungHeadquartersEY’sheadquartersarelocatedintheUnitedKingdom.MorespecificallytheyarelocatedinLondon.Theaddressoftheheadquartersis6MoreLondonPlace,LondonSE1.ErnstandYoungInterviewProcessEYhasa6phaseinterviewprocessthatrecruitsmustgothrough.Thephasesare:IntroductionEmployerQuestionsEvaluationYourQuestionsCloseFollowupOnEy’ssitetheysaythatyoutypicallyhavetomeetwithtwoEYpeopleduringtheinterviewprocesssobepreparedforthat.Needhelpwithyourbig4interview?Letushelpyouwithourbig4interviewcourse!!!Big4InterviewCourseEYHistoryEYfirstbecameErnst&YoungLLPin1989whenErnst&WhinneyandArthurYoung&Co. merged.Ernst&Youngcantracetheirrootsallthewaybacktothe19thcentury.ThetwofoundersofErnstandYoungwereArthurYoungandAlwinCErnst. Thetwofoundersneveractuallymeteachother. ArthurYoungFoundingPartnerArthurYoungwasoneofthefoundingpartnersofE&Y.Helivedfrom1863to1948.HewasborninGlasgow,Scotland.HemovedtotheUnitedStatesin1890tofollowhisdesireforacareerinaccounting.Hefoundedanaccountingfirmin1906thatwouldlaterbecomeagiantintheindustry.EYREVENUEEYrevenuefor2020was$37.2billion.Thisrepresentsgrowthof4.1%growth.EYrevenuefor2019was$36.4billion.EYrevenuefor2018was$34.8billion.EYrevenuefor2017exceeded$31.4billion.Thiskeepsthemrankedasthenumber3accountancyfirmintheworld.EYmade$29.6billionfortheirfiscalyearended2016.Thatmakesthemthethirdlargestpublicaccountingfirmintheworld.EY’srevenuestotaled$28.7billionfortheir2015fiscalyear.Ofthe$28.7billioninrevenue,$11.3billioncamefromAssurance.$7.5billioncamefromtax.$7.3billioncamefromadvisoryand$2.5billioncamefromtransactionadvisoryservices.EYNumberofEmployeesEYhas231,000employeesworkingacrossitsmemberfirmsasof2016.Thatmakesthemthesecondlargestaccountingfirmbynumberofemployees.EYhad 212,000employeesworkinginitsmemberfirmsin2015.65,457oftheseemployeesworkedintheAmericas.102,176oftheseemployeesworkedinEurope,MiddleEast,IndiaandAfrica.36,116ofthoseemployeescomefromtheAsiaPacificregion7,701ofthoseemployeescomefromJapan.EY2018HiringPushEYwillhire14,200candidatesintheUnitedStatesin2018. 5,400ofthesecandidateswillbeexperiencedcandidateswhile8,800willbestudents.Thestudentjobswillbesplitbetween4,880collegegradsforfulltimejobsand3,920willbeforinternships.Theywillstillbehiringinthetypicalaccountingfieldsofaudit,taxandadvisorythough.Ernst&Youngalsomentionedthattheyarelookforcandidatesthatareethnicallydiverseandwomen.Theysaidthattheyapplya3prongedapproachtohelpingwomenandethnicallydiversewomenadvanceintheircareers.TheyilluminateapathtoleadershipfortheseindividualsTheycreateaculturethatenablesflexibilityforallFinallyTheybuildasupportiveandinclusiveenvironmentwherealldifferencesarevaluedEYServicesErnstandYoungprovides assurance,tax,auditing,advisory,enterpriseriskmanagement,andtechnologyandsecurityriskservicestopublicandprivatecompaniesinthevarioussectorssuchas:automotive,energy,chemicals,financialservices,health,realestate,entertainmentalongwithcountlessotherindustries.EYOfficesEYismovingtheirNYHeadquartersEYwillbeoccupyingthenewbuildinghittingmanhattan’sskyline.Theyareslatedtooccupy17floorsofthenewBrookfieldproperty.Theywillmovefromtheircurrentlocationof5timessquarewhichislocatedrightintheheartoftimessquare.ThisiswelcomenewstoallthecurrentemployeeswhodonotlikeworkingintheheartofManhattanwithallthetouristfoottraffic.SanAntonioOfficeOpeningErnstandyoungwillbeopeninganewofficeinSanAntoniowhere600newjobswillbecreated.EyreceivedataxincentivetolocatenewjobsinSanAntonioTexas.What’sweirdisthatthejobswillnotbeaccountingjobs.TheywillbejobscreatedforEnglishmajors,psychologymajorsandcriminialjusticemajors.ThereasonforthisisbecauseEYwillusethelocationasafinancialservicesclientdeliveryservicecenter.Thismeanstheywillbeoutsourcingbackofficefunctionstothislocation.EYhas6yearstoaddthejobsinordertoreceivethetaxincentives.Thetaxincentivescouldbeworthabout$3milion.EYwillspendabout$8milliontofinishdevelopmentandfurnishthesite.Theaveragesalaryoftheemployeesworkingatthislocationwillbe$55,000.TheywillalsohirelocalgraduatesfromSanAntonio.EYPartnershipsErnstandYoungblockchainpartnershipwithSAPLeonardoEYisextendingitsrelationshipwithSAPtobuildoutblockchainsolutionsonvariousSAPERPplatforms.ThespecificsofthepartnershiparethatEYwilluseSAP’sLeonardoplatform.OneproductthathasalreadybeendevelopedisEY’sOpsChainwhichisdesignedtoehlpcustomersmanagetheirsupplychain.Itusessmartcontractsdevelopedontheblockchaintomanageownershipinthesupplychain.ThisisjustproofthatblockchainisbecomingmorecommonintheaccountingindustryifEYwhichisoneofthelargestaccountingfirmsisbuildingsolutionswithSAPwhichisoneofthelargestaccountingERPdevelopers.It’sonlyamatteroftimebeforeeveryERPisinthecloudandhasmanyblockchainsolutions.EYformstaxpartnershipswithConcurEYhaspartneredwithConcurwhichisalsoanSAPcompany.Concuristheworld’sleadingprovideroftravel,expenseandinvoicemanagementsolutions.ThesolutionthatEYandConcurhaveteameduptobuildwillallowbusinesstravelersmanagerealtimeimmigrationandtaxassessments.Itwillcapturealltherelevantdatawithinconcur.ThemainofferinghereisConcurstechnologywithEYtaxandimmigrationtechnologyandknowledge.Thiswillallowbusinesstravelerstoseetheirimmigrationandtaxobligationsthatresultsfromtheirtravelbeforetheytravel. FrequentlyAskedQuestionsaboutErnstandYoungWhatisErnstandYoung?–Ernst&YoungPVTLTDisaprofessionalservicesfirmthatprimarilyfocusesinaccountingandmorespecificallytheauditingofvariouscompanies’financialstatements.HowmanyemployeesdoesErnstandYounghave? –Asstatedabove,ErnstandYounghad212,000employeesasof2015and231,000asof2016.WhoistheCEOofErnstandYoung? –TheCEOofErnstandYoungisMarkWeinberger.Ernst&Younglinesofservice –Ernst&Younghastax,assurance,andadvisorylinesofservice.WhatdoesErnstandYoungdo? –Ernst&YoungLLPisprimarilyanauditfirmwhichmeanstheyareresponsibleforauditingthefinancialstatementsofvariouscompanies.Theyalsooffertaxservicesandconsultingservicestotheirclients.WhoauditsErnst&Young? Ernst&YoungisauditedbythePCAOB.ThePCAOB standsforthePublicCompanyAccountingOversightBoard.WherecanIfindtheErnstandYoungStockPrice?ManypeopleaskabouttheErnstandYoungstockpriceortheErnstandYoungshareprice.Unfortunately,Ernst&Youngisnotapubliclytradedcompany,soitdoesnothaveastockprice.ErnstandYoungFortune500ranking–ErnstandYoungdidnotmaketheFortune500rankingin2015.Needhelpwithyourbig4interview?Letushelpyouwithourbig4interviewcourse!!!Big4InterviewCourseSearchSubscribeToOurYoutube!Big4InterviewQuestionsBookBig4InterviewCourseBig4LayoffsSupportOurSite&PodcastSupportOurContentGotoTop