PracticeAccounting FirmsE&Y’s UK revenues rise by £100m

E&Y's UK revenues rise by £100m

Big Four firm generates fees of £1.38bn compared to £1.28bn in 2008, representing a 7.9% increase despite the treacherous economic climate

Ernst & Young’s UK arm has raked in fees of £1.38bn for the year to 3
July 2009, a rise of more than £100m compared to 2008.

This represents a rise of 7.9%, dwarfing revenue increases in percentage
terms at other Big Four firms. PwC posted a 0.5% increase while Deloitte saw
revenues fall by 2%.

Globally, the firm generated revenues of $21.4bn for the fiscal year ended 30
June 2009 (FY09), a 0.2% decrease in local currency terms.

Despite the tricky economic conditions the UK division, which includes
Northern Ireland, improved its performance through increased advisory, tax and
transaction advisory work.

However, breakdowns showed fees from statutory audit dropped by £30m to £302m
compared to 2008.

The advisory arm covers actuarial, business risk (including internal audit),
information security, forensics and performance improvement services.

Tax services includes business and personal tax, indirect tax, human capital
and international tax activities.

Transactional advisory covers restructuring, M&A, project finance,
transaction real estate, transaction support and integration, valuations and
business modelling services, the firm said.

Scott Halliday, managing partner for UK & Ireland said: “The quality of
our services has always been central to our strategy, which has enabled us to
respond quickly and appropriately to the new risks and challenges of the credit
crisis.”

Further reading:

PwC
revenues grow by just 0.5%

Deloitte
sees revenues fall in tough market

Related Articles

EY partner appointed Legal & General group CFO

Accounting Firms EY partner appointed Legal & General group CFO

12m Acccountancy Age
Friday Afternoon Live: HMRC's confidentiality breach; EY partner profits fall

Accounting Firms Friday Afternoon Live: HMRC's confidentiality breach; EY partner profits fall

1y Kevin Reed, Writer
Professionals return to work with help from Big Four firm

Accounting Firms Professionals return to work with help from Big Four firm

2y Fraser Simpson, Reporter
EY forges alliance with Adobe

Accounting Firms EY forges alliance with Adobe

2y Chris Warmoll, Writer
PwC to take on Weir Group audit

Accounting Firms PwC to take on Weir Group audit

2y Calum Fuller, Reporter
Trio of accountancy firms scoop social mobility gongs

Accounting Firms Trio of accountancy firms scoop social mobility gongs

2y Chris Warmoll, Writer
Accountancy body and Big Four launch tax apprenticeship programme

Accounting Firms Accountancy body and Big Four launch tax apprenticeship programme

2y Fraser Simpson, Reporter
EY appoints five partners to its forensic investigations team

Accounting Firms EY appoints five partners to its forensic investigations team

2y Richard Crump, Writer