Ernst & Young’s global integration strategy has driven a 16.2% rise in
revenue in the 2008 reporting year.
All service lines recorded a jump in profits with the global revenue
totalling $24.5bn (£14bn).
The merger of 87 practices across Europe, the Middle East, India and Africa,
and an additional 15 practices throughout Asia has propelled the year-on-year
revenue increase to US$3.4bn – a growth rate of 16.2%.
EMEIA’s revenues went up from $9.6bn to $11.4bn, which represents an increase
of 18% in dollar terms but a more modest 7.9% in local currency terms.
According to James S Turley, global chairman and CEO of
& Young, the integration strategy has helped quantify the return on
The strongest revenue reported is across the Asia-Pacific region, where a
34.3% increase was recorded, to $3.3bn. Within this region, Japan increased
revenues by 42.6%, the Far East area grew by 32.3% and the Oceania area rose by
According to John Ferraro, global chief operating officer at Ernst &
Young, the firm is mid-way through a four year $1bn investment program in
penetrating emerging global markets.
‘These markets represent some of our best growth opportunities,’ Ferraro
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.