E&Y confirm Singapore tie-up
Another piece of the crumbling Andersen empire has peeled away with the news that its Singapore firm is to merge with Ernst & Young.
Following talks over the Easter weekend, the firms announced their intention to combine their practices, creating Singapore’s largest accountancy firm.
The move was widely touted but the tie-up has now been officially confirmed.
The merger is the latest move by E&Y to cherry pick practices from Andersen Worldwide, which so far has included New Zealand, Australia and Russia.
As talks continued between KPMG and Andersen over the remaining parts of the Big Five firm yesterday, Deloitte confirmed it was to merge with Andersen in Spain.