Surge in global E&Y revenue
Ernst & Young today released its global revenue results which revealed an increase of $300m to a record $10.1bn for the fiscal year ending June 30 2002.
The results reflect revenues earned across its four service lines: assurance and advisory business services; tax; law and corporate finance. Of the four areas, the companies corporate finance division was the clear leader when it recorded revenue increases of 9% in US dollars and 10.2% in local currency.
Ernst & Young’s chairman, James Turley said in a company statement that the company has grown less than he would have liked, but said that the fact E&Y picked up more Anderson clients than any other firm was significant.
‘We strengthened our firm on a global basis through being engaged by more former Andersen clients and executing more combinations with former Andersen practices than any other firm,’ he said.