PracticeConsultingE&Y partners to vote on consulting sell-off in wake of SEC audit rules probe

E&Y partners to vote on consulting sell-off in wake of SEC audit rules probe

Ernst & Young is about to call a partners' meeting to vote on an $8bn offer for its management consultancy division from Cap Gemini, it has been reported.

The deal would give the partners a stake of around 30% in the French consulting giant, Sunday Business reports.

E&Y’s willingness to consider selling off its consultancy wing may be encouraged by the action of the US Securities & Exchange Commission, which is concerned at conflicts of interest between accountancy firms’ audit businesses and their advisory work.

This issue has intensified over the last few days following publication of an SEC report revealing thousands of violations of audit rules by PwC partners in the US.

SEC conflict of interest report on PwC could signal start of global clampdown

Ernst in talks with IT giant over future of consultancy wing

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