Stephen Foley | Financial Times

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Friday, 24 March, 2023

Accounting & Consulting services
EY global chair says partners have ‘right to vote’ on spin-off plan
Appeal to partners comes after US boss calls for a pause in push to split the business
1 hour ago
Thursday, 23 March, 2023

Accenture PLC
Accenture to axe 19,000 jobs
Consultancy faces $1.5bn in severance costs and other expenses for biggest in series of cuts across sector
Thursday, 23 March, 2023

EY
EY’s US boss warns it is ‘premature’ to say whether break-up plan can be salvaged
Julie Boland defends decision to pause work on historic split of Big Four firm
Tuesday, 21 March, 2023

Accountancy
Silicon Valley Bank losses embolden calls for US accounting rule reform
‘Fair value’ approach would have made SVB’s losses on bond portfolio obvious to investors earlier, say advocates
Sunday, 19 March, 2023

Banks in turmoil
Start-ups learn the hard way how to manage cash after SVB’s collapse
Many founders have scrambled to recover funds they had parked in large amounts at the failed lender
Wednesday, 15 March, 2023

Financial fraud
Exiled Chinese businessman Guo Wengui arrested on US fraud charges
Prosecutors allege he ‘led a complex conspiracy’ to bilk online followers out of more than $1bn
Tuesday, 14 March, 2023

Silicon Valley Bank
KPMG stands by audits of Silicon Valley Bank and Signature Bank
The two institutions failed days after issuing annual reports certified by the accounting firm
Monday, 13 March, 2023

EY
EY US boss signalled wide-ranging concerns over split
Julie Boland tells partners there are questions about how to protect the audit business and profit targets for consulting
Friday, 10 March, 2023

News in-depthAccounting & Consulting services
‘Frustration and chaos’: EY fights to save Project Everest after US rebellion
Complex plan to split the audit-to-consulting firm now depends on global HQ brokering a deal
Thursday, 9 March, 2023

Accounting & Consulting services
Deloitte boss rebuts EY’s case for splitting up
Joe Ucuzoglu publishes point by point defence of Big Four’s multidisciplinary model
Thursday, 9 March, 2023

EY
EY in disarray as internal war over break-up plan bursts into open
US boss caught senior leaders off guard by announcing in a partner call that ‘Project Everest’ needed to be reworked
Wednesday, 8 March, 2023

EY
EY split paused amid partner infighting over fate of tax experts
US boss says plan to spin off the consulting business needs to be reworked
Tuesday, 7 March, 2023

Accounting & Consulting services
PwC and KPMG fall behind in promoting women to run major audit work
Men account for 80% of lead Big Four partners on the lead audits of S&P 500 companies
Monday, 6 March, 2023

The Big Read
To split or not to split: EY confronts the question
Plan to break up the Big Four firm would reshape the profession and enrich senior partners, but the landscape has changed since it was first announced
Monday, 6 March, 2023

US Inflation Reduction Act
Global minimum tax could eat up US green subsidies, say companies
Multinationals warn of ‘massive’ transfer of American taxpayer money into foreign government coffers
Wednesday, 15 February, 2023

KPMG LLP
KPMG is first Big Four firm to cut staff in US as economy slows
Reductions in consulting business will affect 700 people
Monday, 13 February, 2023

US Inflation Reduction Act
Rush for US clean energy subsidies boosts brokers and lawyers
Biden’s Inflation Reduction Act is sparking a revolution in financing for renewables
Friday, 10 February, 2023

Cryptocurrencies
The mystery of the shapeshifting crypto-VC profit
A mistake from a fund that lists Bill Ackman among its backers
Friday, 3 February, 2023

EY
EY considers handing retired US partners cut of proceeds from spin-off
Big Four accounting firm agrees to hire legal counsel for retirees regarding $7.5bn pension liability
Tuesday, 31 January, 2023

American International Group Inc
AIG fires interim chief financial officer
Insurer says Mark Lyons violated confidentiality rules
Wednesday, 18 January, 2023

Financial services
Companies parachute accountants in to fix flawed ESG data
Emissions information lags behind financial statements of groups facing new reporting mandates
Sunday, 15 January, 2023

World Economic Forum
Top global companies write down billions as deals make way for gloom
Business leaders prepare to meet in Davos as a third of world economy forecast to be in recession this year
Sunday, 8 January, 2023

EY
EY earmarks $2.5bn for consulting arm M&A splurge after planned split
Acquisitions will be more attractive to consulting business after separation from audit arm
Sunday, 1 January, 2023

US financial regulation
Record fines on audit profession recycled to help new generation
US regulator’s scholarship programme is beneficiary after wave of scandals
Friday, 23 December, 2022

EY
EY cuts costs to boost profits ahead of planned spin-off
Big Four firm explores whether to force partners to reinvest their cash windfalls following the break-up