Ernst and Young is now known as EY and is a multinational company that offers professional services. Considered to be one of the largest companies that deal in professional services, Ernst
and Young has made it to the list of the top 4 professional services firms which are known as the Big 4. EY follows a rather impressive global structure. Headquartered in London, the UK the firm has its operations spread over 150 countries across the world. With more than 700 offices operating worldwide, Ernst and Young employ close to 231,000 employees.
History of Ernst and Young
The firm dates back to the nineteenth century and is an end product of a number of mergers that took place over the years. It originated from a company named Harding & Pullein which was founded in England in the year 1849. Later when Fred Whinney and then his son joined as partners, the company was renamed Whinney Smith & Whinney in the year 1894.
In 1903, Alwin C Ernst and Theodore Ernst founded a company known as Ernst & Ernst in Cleveland. In 1906, Arthur Young founded a firm named Arthur Young & Co. These American companies went on to form an alliance with the British companies. This is when Ernst and Ernst allied with Whinney Smith and Whinney to form Ernst and Whinney and Arthur Young & Co with Broads Paterson & Co. Later in 1989, Ernst and Whinney merged with Arthur Young’s firm to form Ernst and Young.
The Global Presence
EY is known for its focus on its service consistency and is one of the best-managed companies on a global level. The global network of the country is classified into four areas and each country where the EY operates is a part of one of these areas. The four areas of the global network are namely Asia Pacific, Americas, Japan and EMEIA – Europe, Middle East, India and Africa. The business structure of every area is identical which is what helps the country to keep its services consistent across the globe.
Ernst and Young offer professional services to the business organizations all over the world. The major services that they offer are
- Taxation services like business tax compliance, global trade, indirect tax etc.
- Assurance like fraud investigation and dispute services, financial audit etc.
- Transaction advisory services
- Advisory services like IT risk and assurance, performance improvement etc.
Ernst and Young Internship
EY offers internships to students across the world to train them in the specialized services that they offer. Their aim with these internships is to prepare the new generation to face the global market equipped with the skills that will help them grow.
Ernst and Young Benefits
With the company operating worldwide, it has thousands of employees working for it and EY takes special care to offer them benefits that will see them through. The important benefits offered by the firm are retirement benefits, vacation policy, health care benefits and insurance cover.
Ernst and Young Canada
The Canada sector of EY is growing with every passing day and employs a lot of people in its offices. The firm in Canada assesses the business scene time and again to understand the various issues that mar the business operations of organizations and then offer services to extend their support.
Ernst and Young Philadelphia
EY operates in Philadelphia and offers all the services that help in smoothing the various functions of the business organizations in and around the city. The company also organizes an Entrepreneur of the Year award in the Greater Philadelphia region to encourage healthy competition in the business sector.
Ernst and Young Houston
The EY Houston sector manages the operations in Texas and the surrounding areas. The firm here offers its professional services like tax services, assurance services etc to the organizations here.
Ernst and Young is known for being the best managed professional services firm on the global level. The consistency of its service is what encourages it clients to hire its services again and again.