Ernst and Young is a top accounting firm with locations all over the world
ERNST AND YOUNG is one of the world’s most prestigious accounting firms. The company has a diverse offering and it provides audit, tax, advisory services and a host of other consulting solutions to large multinational companies. ernst & young offers its clients assurance, insight and advice that help transform their businesses in response to the challenges they face. The company’s approximately 150,000 people serve clients in more than 100 countries, with one of the largest global professional services networks in the world. Ernst & Young has 43,000 employees, and $8 billion in revenues. The company is headquartered in New York City and was formed by a merger of Ernst & Whinney and Arthur Young & Company on December 31, 1989. In 2000 it merged with Klynveld Main Goerdeler to become EY. The company is known for its slogan: “Ernst and Young, Changing the World”.
“Changing the world”, or “changing the world of companies [sic]”: [I don’t know enough about Ernst & Young to judge this one, so I’m open-minded. I’m used to seeing this phrasing from a variety of sources, including (1) Id.
(2) Wikipedia: “Ernst & Young (EY) is a professional services firm headquartered in New York City with offices in 60 countries around the world.” The structure of EY is similar to other global companies; it has an executive group collaborating with internal teams. There are also external groups that specialize in particular markets, industries or regions. (3) Wikipedia: “In an Ernst & Young survey of 1,300 CEOs worldwide regarding challenges facing business in 2012, they ranked “Rising costs of health care and insurance” as the top concern. The survey also revealed that in 2011, CEOs expected an increase in government regulation to be the greatest obstacle to their success.”
They offer a wide range of services, from auditing to consulting
Ernst & Young is one of the world’s largest providers of financial services and products. The company is unique in its ability to provide all the services needed for a complete, integrated audit (or business review, if requested by the client) – assurance, tax and consulting – under one roof. We are an independent member of Ernst & Young International Limited.
These services include:
*Audits; business reviews; and risk assessments
*Consulting on financial reporting (supplemented by banking advice for large corporate clients)
*Mergers, acquisitions and divestments
*Corporate finance (e.g., trade financing transactions, debt and equity underwriting)
*Insolvency advisory services
*Transactional advisory services (e.g. advising clients on mergers, acquisitions and divestments or their alternatives)
Ernst & Young is a member of CHAMPS, the global association for assurance, tax and consulting professionals. For CHAMPS members, there is an integrated approach to assurance, tax and consulting services. The services are provided from one source under one roof – with a single point of contact for all services (a single “front desk”).
This comprehensive approach promotes greater efficiency in providing high-quality assurance, tax and consulting services. In addition, it can save time for our clients and their business partners, who are often in different time zones.
Ernst & Young is a certified CHAMPS member.
Ernst and Young is known for its commitment to client service and its talented employees
ERNST AND YOUNG has been recognized as one of the most admired companies in the world. In 2014, Ernst & Young was named as “Best Employer for Women” in Latin America, an award received for the last ten years. In addition to our Gender Balance project that deals with the inclusion and integration of women into all areas of our business, at Ernst & Young we have been the driving force in the global development of our Gender Diversity program.
In 2012, we were the first accounting firm to become a signatory of the UN Women Global Compact which aims to promote more inclusive economies for women. In support of this important initiative, we have made a public commitment to achieve gender parity in our workforce worldwide by 2020.
The commitment is an integral part of our global vision and strategy 2014-2018: “Be the most highly regarded professional services provider – an exemplar for change”. The vision is built on the firm’s core purpose: “Building trust in society”. To fulfill its purpose, Ernst & Young provides our clients with the highest quality of service and technical expertise. To build trust in our services, we must also be trusted to give them to all of our stakeholders – clients, candidates, employees and society.
The Chicago office is one of the largest in the country
The Chicago office has over 1,600 professionals and serves clients from Chicago and many US states. The office currently provides audit, tax and consulting services and opened a new firm-wide support center in 2009. The agency achieved ISO 9001:2008 registration in 2008. The office also provides a wide range of other services, such as IT-consulting and M&A advisory.
In 2013 Ernst and Young listed a total of over 1,800 employees in its Chicago’s office, including 21 partners. [http://www.ey.com/chicago/en/About-Us/Our-People/Our-Leadership]
Chicago is home to one of EY’s three US global support centers, with over 1150 professionals serving the firm’s US clients from 6 cities across the country: Chicago, New York City, Phoenix, Dallas & Kansas City with Virtual Centers in San Diego and Milwaukee. [http://www.ey.com/us/About-Us/Our-People/Our-Leadership]
It has a rich history dating back to 1920
ERNST AND YOUNG was founded as a partnership between Edwin Ernst, James W. Young and Albert Lasker in Chicago in 1914. The company’s first big win was an audit of Montgomery Ward’s finances. By the early 1920s, Ernst & Young and its new partner, Arthur Young & Co., had become one of the most highly regarded accounting firms in the country. The firm was national in scope by the 1930s. In 1956, Ernst & Young moved into new headquarters on East Wacker Drive in Chicago, its present location. Ernst & Young and Lasker & Co. merged in 1970 to become Ernst & Young.
The first office was in the former Blackstone Hotel on Madison Street, a few blocks from the Chicago Stock Exchange. Ernst worked out of his parents’ kitchen (sharing a bathroom with his mother, who was a bookkeeper for Wm. Wm. Gann, Jr., Inc.) as an assistant bookkeeper from October 1915 to March 1916. In the fall of 1915, he began working for George L. Colton & Co., a Chicago-based company that was one of the largest auditorial firms in the country. For a time, Ernst also worked as an assistant accountant in a small firm owned by John B. Watson, who later became one of the pioneers on Wall Street as president of the First National Bank of Chicago.
Ernst and other young executives from Ernst & Young accompanied Richard Whitney to set up his accounting firm in Philadelphia after World War I . . . .