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Today 01:25 AM

Unregistered

://afr.com/companies/professional-services/the-seven-slides-ey-used-to-pitch-its-split-to-staff-20220811-p5b93q

Another slide states that if there is a split, the auditing arm, AssureCo, will have estimated revenue of $US18 billion and be 100 per cent owned by partners staying in that business, while the consulting arm, NewCo, will have estimated revenue of $US24 billion and be a new corporate entity majority-owned by EY partners moving to the new standalone advisory business.

Not mentioned is how the firm’s existing legal woes will be dealt with. EY’s overseas operations have been at the centre of a string of high-profile audit failures.

EY was the auditor of Wirecard, a German payment processor that filed for insolvency in 2020 after admitting that €1.9 billion of cash on its books probably never existed. EY also audited Luckin Coffee, a Chinese coffee chain that filed for bankruptcy amid allegations its executives inflated income, costs and expenses.
****

Thoughts? Consulting trying to ditch audit arm to fend for itself. If EY splits up it's consulting arm, the auditors are screwed!

Yesterday 04:11 PM

Unregistered

Quote:

Originally Posted by Unregistered

Hmm no doubt there is management accounting.

But most are us are CA-qualified and our areas of expertise or over financial reporting, assurance and tax.

You don’t need a CA to do budgeting or forecasting.

agreed.....

Yesterday 08:56 AM

Unregistered

Quote:

Originally Posted by Unregistered

Accounting is not plainly just financial accounting (I.e IFRS, FS), there is management accounting also. If you look at certain FP&A positions quite a number of them require accounting knowledge

Yesterday 08:10 AM

Unregistered

Quote:

Originally Posted by Unregistered

Analysis, forecasting and budgeting are an entirely different skill set and field, no?

It’s a bit of a stretch to even lump them under accounting as they have nothing to do with IFRS or FS.

Why even compare them to audit?

Accounting is not plainly just financial accounting (I.e IFRS, FS), there is management accounting also. If you look at certain FP&A positions quite a number of them require accounting knowledge

Yesterday 07:23 AM

Unregistered

Yellow comp

Does anyone know when will we know of compensation updates for yellow?

17-08-2022 11:03 PM

Unregistered

Quote:

Originally Posted by Unregistered

Controlling and FP&A positions that involves in analysis, forecasting and budgeting. These are not really dead end roles as what you mentioned above

17-08-2022 10:11 PM

Unregistered

when EY will be adjusting the salary? for fresh graduates joining in sept will get the revised pay or current rate?

17-08-2022 09:28 PM

Unregistered

Quote:

Originally Posted by Unregistered

What exactly do people do in commercial?

I can’t imagine AR AP GL FA Tax Accountants being more valuable than us who have experienced a full set of accounts.

Controlling and FP&A positions that involves in analysis, forecasting and budgeting. These are not really dead end roles as what you mentioned above

17-08-2022 09:19 PM

Unregistered

Quote:

Originally Posted by Unregistered

Big 4 auditors need to set realistic expeditions in the job market. Expecting high increment when you only got audit experience during job hop is definitely our pricing yourself compared to your competitors (e.g auditor with 6 years exp vs FP&A professional with 3 yrs audit exp and 3 yrs commercial exp).

What exactly do people do in commercial?

I can’t imagine AR AP GL FA Tax Accountants being more valuable than us who have experienced a full set of accounts.

17-08-2022 06:56 PM

Unregistered

Quote:

Originally Posted by Unregistered

Bro if u leave big 4 for 15% only you are doomed

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