EY News

Probe Into EY India’s Office After Worker’s Death Finds it Lacked Labor Welfare Permit

An Ernst & Young (EY) office in western India, which employed a 26-year-old who allegedly died after facing a high workload, has operated since 2007 without a state permit which regulates work hours, a senior government official told Reuters. EY …

EY, KPMG Benefit Most From PwC China’s Regulatory Woes

Ernst & Young (EY) and KPMG have snapped up over half of PwC’s corporate clients in China that have fled the market’s leading accounting firm as it faces a regulatory probe, filings show. Chinese authorities have been investigating PwC’s role …

Staff Warned Off Whistleblower Hotlines: Global Survey

More than half of whistleblowers have felt pressured not to use internal hotlines to raise red flags at large global businesses and public bodies, a global EY survey showed. The number of organizations without a whistleblowing hotline has halved since …

Chief Risk Officers Say Cybersecurity Most Pressing Risk: Survey

In an inaugural EY/Institute of International Finance (IIF) global insurance risk management survey, cybersecurity was ranked as the highest concern for chief risk officers. CROs surveyed said the top five risk types or risk management types for the coming year …

Car Premiums to Rise Again as British Insurers Feel the Heat

Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …

UK Widens Lead as Europe’s Top Draw for Financial Services Investors

For all the gloom around the impact of Brexit on the City of London, the latest survey of Europe’s top destinations for foreign direct investment in financial services is a reminder of the UK’s continuing heft in the sector. Britain …

East, Southern Europe Win as Firms Rethink Supply Chains

Low-cost economies in eastern and southern Europe are being increasingly favored for investment as companies around the world revamp supply chains to make them more resilient and cost-efficient, a study by professional services group EY found. The finding came as …

China Urges State-Owned Firms to Drop Big 4 Auditors Over Data Security Concerns

Chinese authorities have urged state-owned firms to phase out using the four biggest international accounting firms, signaling continued concerns about data security even after Beijing reached a landmark deal to allow US audit inspections on hundreds of Chinese firms listed …

Germany’s Commerzbank Sues EY for Losses Incurred in Wirecard Collapse

The German lender Commerzbank is suing accounting firm EY over the 200 million euros ($216.12 million) in losses that it incurred in the collapse of Wirecard, a bank spokesperson said on Thursday. Wirecard’s downfall two years ago shook the German …

UK Financial Services Firms Lead Europe in Push to Shrink Board Gender Gap

UK finance firms now have a higher proportion of women on their boards than their European counterparts, a rare boost for the City of London’s attempts to improve the industry’s diversity. Women made up 58% of new board appointments at …