E&Y’s UK revenues rise by £100m

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

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