E&Y limits services to audit clients

The move to limit services offered to audit clients is seen as reaction to the Enron scandal currently battering the profession’s image. In the past, E&Y and other Big Five firm had vehemently fought against such an idea.

Andersen in the US said on Sunday it was creating a special oversight board to tighten controls within the firm. KPMG and PricewaterhouseCoopers broadly backed the proposals saying they would support similar changes.

Deloitte & Touche is now the only Big Five firm that continues to fight against moves to separate its consulting and audit arms.

Related reading