EY

Ernst & Young (EY) is a multinational professional services network headquartered in London, United Kingdom. Established in 1989 through the merger of Ernst & Whinney and Arthur Young & Co., EY has grown to become one of the world’s leading professional services organizations. It employs approximately 392,995 people across more than 700 offices in over 150 countries.

Service Lines

EY offers a comprehensive range of services through four main service lines:

• Assurance: financial audit, financial accounting advisory services, climate change and sustainability services, forensic and integrity services.
• Tax: transfer pricing, international tax services, business tax compliance, global trade, indirect tax, tax accounting and risk advisory services, tax technology and transformation, transaction tax.
• Consulting: business consulting, technology consulting, people advisory services.
• Strategy and Transactions: valuation, modeling, economics; transactions due diligence; real estate advisory; mergers and acquisitions; turnaround and restructuring; corporate finance.

Financial Performance

In the fiscal year ending June 2024, EY reported global revenues of $51.2 billion, marking a 3.9% increase from the previous year. The firm’s Spanish division, led by Federico Linares, anticipates double-digit growth. This builds on an 18.8% increase in the prior fiscal year.

Global Presence

EY’s global presence includes offices in major cities worldwide. In the United States, the company operates in:

• Newark, NJ, USA
• Chicago, IL, USA

Purpose and Leadership

The firm’s purpose, "Building a better working world," underscores its commitment to providing insights and quality services that help build trust and confidence in capital markets and economies globally.

EY focuses on developing outstanding leaders who deliver on promises to all stakeholders, playing a critical role in building a better working world for its people, clients, and communities.

Recent Developments

In recent developments, EY restructured its UK legal arm, resulting in approximately 30 job cuts out of 160 employees. This decision follows a previous round of job cuts in 2023, marking a further retreat from the firm’s initial ambition to expand in the legal sector.

Outlook

Overall, EY continues to adapt and evolve, leveraging its global reach and diverse service offerings to meet the dynamic needs of its clients. The company contributes to the betterment of the global business landscape.