Ernst & Young
EY (formerly Ernst & Young) is a global group of companies legally separate and independent companies in the areas of audit, tax and corporate and management consulting. EY is one of the Big Four - the four largest accounting firms.
The group employs in the year 2013 more than 175,000 employees at 700 locations in 150 countries. The total turnover of the worldwide network amounted in 2013 to U.S. $ 25.8 billion.
- 4.1 Facts and Figures
- 4.2 services
- 4.3 history 4.3.1 Moving to Zurich
- 5.1 Facts and Figures
- 6.1 EMEIA Area
- 6.2 German Business Network
History
The present company Ernst & Young is the result of a series of mergers of predecessor organizations. The oldest original company was founded in 1849 in England as Harding & Pullein. In the same year the Americans Frederick Whinney joined the company. He became partner in 1859, and with his sons as other partners, the company in 1894 in Whinney, Smith & Whinney was renamed.
Alwin and Theodore Ernst founded in 1903 in Cleveland, the company Ernst & Ernst. 1906 Arthur Young & Company was founded in Chicago. A prominent client of Ernst & Ernst in the 1920s was the flamboyant speculator and " Zündholzkönig " Ivar Kreuger.
1965 merged Whinney, Smith & Whinney with Brown, Fleming & Murray at the accounting and consulting firm Whinney Murray. Whinney, Smith & Whinney were closely associated with Ernst & Ernst since the 1940s, and in 1979, Whinney Murray Ernst & Ernst and Turquands Barton Mayhew signed on as Ernst & Whinney, the then fourth largest accountancy firm in the world. Merged in 1989 this number four with the then number five, Arthur Young, from which Ernst & Young was born.
The company greatly expanded its consulting activities in the 1980s and 1990s. The U.S. Securities and Exchange Commission and institutional investors have expressed increasing concern over possible conflicts between consulting and audit activities. Ernst & Young was the first of the five largest U.S. accounting firms that separated its activities in the field of system integration and auditing formally and factually complete.
In May 2000, the consulting area for 11 billion U.S. dollars was sold to the French consulting and IT services company Cap Gemini, from which the consulting firm Cap Gemini Ernst & Young was born, which was later changed back to Capgemini.
In December 2010, New York Attorney General Andrew Cuomo filed charges against Ernst & Young. The company is accused of investment bank Lehman Brothers helped with accounting tricks to disguise the true extent of the debt. Cuomo calls for not only the more than 150 million dollars in fees back that Ernst & Young had conceded in the years 2001 to 2008 for the audit of Lehman's books, but also wants to recover the damage suffered by the investors when the bank went bankrupt in September 2008.
Some large customers
Ernst & Young Germany
Facts and Figures
The German Ernst & Young Group, headquartered in Stuttgart employs 7,900 employees. In 2013, Ernst & Young Germany achieved a turnover of 1.3 billion euros, Germany is in third place among the largest accounting firms.
Ernst & Young has a presence in 22 offices across Germany: Berlin, Bremen, Dortmund, Dresden, Dusseldorf, Erfurt, Essen, Eschborn (near Frankfurt ), Freiburg, Hamburg, Hanover, Heilbronn, Cologne, Leipzig, Mannheim, Munich, Nuremberg, Ravensburg, Saarbrücken, Singing, Stuttgart and Villingen -Schwenningen.
In December, 2008, Ernst & Young as the first major German auditing and consulting company its first sustainability report. The report provides comprehensive information on the ethical, socially and environmentally relevant activities and projects in all areas of the company.
In June 2009, Ernst & Young took place in Germany a legal form and is now known as Ernst & Young GmbH auditing company (formerly Ernst & Young auditing and tax consulting company ).
Services
The services provided by Ernst & Young Germany includes the audit, audit-related, tax, management consulting and advisory services in the areas of Transaction Advisory Services and Real Estate. It is aimed at both large and medium-size businesses.
History
Ernst & Young Germany goes back to the established in 1919, Schitag ( Swabian Trust Ltd), and Datag founded in the same year ( German Allgemeine Treuhand AG), who joined the international networks of Arthur Young and Ernst & Whinney in the eighties. 1994 merged the two companies to Schitag Ernst & Young, and since 1999 also operate the two German member companies under the common name of Ernst & Young.
Arthur Andersen was founded in 1913 in the United States as Andersen, Delaney & Co.. In the 60s and 70s, Arthur Andersen became one of the largest consulting firms in the world. In Germany, the company opened its first office in 1960. In 2002, Arthur Andersen Germany had 3,800 employees in ten locations. Due to its involvement in the Enron scandal, Arthur Andersen was no longer active as of 2002. The independent national companies of Arthur Andersen teamed up with different competitors.
The German subsidiary of Arthur Andersen merged in September 2002 with Ernst & Young. After the merger with Arthur Andersen, Ernst & Young GmbH auditing company is the third major force among the German auditing and consulting firm and in tax number one in the German law firms.
The existing prior to the merger with Arthur Andersen and comprehensively to provide legal assistance authorized Ernst & Young German Allgemeine Treuhand AG auditing and tax consulting company is next on, and provides a variety of consulting and auditing services.
Entrepreneur of the Year ( Germany )
Since 1996 Ernst & Young Entrepreneur Competition organized the "Entrepreneur of the Year" in the categories of industry, trade, services, information technology and start-up. The independent jury selects high-profile personalities and determines the winner of the competition out of business and science. The award recognizes the power of entrepreneurs who are at the top mid-sized companies and are characterized by outstanding economic success and exceptional growth.
Ernst & Young Switzerland
Facts and Figures
The Swiss Ernst & Young Group, with headquarters in Basel and in fiscal year 2012/2013 a turnover of CHF 568.7 million and thus is in the Switzerland ranked first in the examination of SMI companies. Ernst & Young has a presence in 11 offices in Switzerland and Liechtenstein: Aarau, Basel, Bern, Geneva, Lausanne, Lugano, Lucerne, St. Gallen, Vaduz, and Zurich train.
Services
The services provided by Ernst & Young AG includes the audit, audit-related, tax and legal advice and consulting in the areas of Transaction Advisory Services and Real Estate. It is aimed at both large and medium sized companies from the industry and the financial sector.
History
The establishment of the administrative, Revision und Treuhand AG, Basel, in Allgemeine Treuhand AG (hereinafter the abbreviation " ATAG " is used) was renamed in 1919, took place on March 6, 1917 by the Basel Commercial Bank. On November 21, 1945, succeeded the former ATAG - Chairman of the Board, Dr. Manfred Hoessly to conclude with the Swiss Bank Corporation a contract to purchase the majority package of shares, which in turn were the majority in 1958 transferred to the Manfred Hoessly Foundation. This independence was at that time a special among accounting firms, with advantages and disadvantages for the course of business: The company indeed lost the quasi- automatic access to the bank customers. However, one could simultaneously build a reputation as a particularly independent audit firm, which in the field of medium-sized enterprises in particular earned trust.
1989 merged Arthur Young and Ernst & Whinney International International Ernst & Young. To document the inclusion in the new company to the outside world, the ATAG called himself since May 1991 « ATAG Ernst & Young AG ». In 2000, the final step in this naming process was completed with the name change to "Ernst & Young AG ». Founded in 2008, EMEIA organization is the preliminary final milestone in the international integration.
On experience with new colleagues fall back on, however, when Ernst & Young built in Switzerland in 2002, the Arthur Andersen employees in their own companies. In January 2009, Bruno Chiomento took over the role of CEO, Thomas Stenz acts since July 2009 as Chairman of the Board.
Moving to Zurich
On 23 June 2011, the Ernst & Young AG is officially moved into its new corporate headquarters in Zurich. The building with the name " Platform" is an annex building of the Prime Towers. The seven commercial building has a triangular floor plan on an area of 6,600 m² and has a capacity of over 1,000 employees. The new building which formerly distributed in three locations of Zurich Ernst & Young in a central location could be united. Construction began in early 2009 and was completed in spring 2011.
Entrepreneur of the Year ( Switzerland )
Since 1998, the Ernst & Young AG in Switzerland organized the entrepreneur contest " EY Entrepreneur Of The Year ™ " in the categories of industry, services, Emerging Entrepreneur and HighTech / Life Sciences An independent jury selects the winner of the competition. The award recognizes the power of entrepreneurs who are at the top mid-sized companies and are characterized by outstanding economic success and exceptional growth.
On October 25, 2013 was the 16th EY Entrepreneur Of The Year ™ competition in the " StageOne » in Zurich. Among the current winners include the following entrepreneurs:
- Kadir and Deniz Ugur, Bentour Turkey Travel AG, Zurich, category " Trade / Services »
- Rolf A. Sonderegger, Kistler Group, Winterthur, category ' Industry / High -Tech / Life Sciences »
- January Schoch, Leonteq Securities AG, Zurich, category, " Emerging Entrepreneur"
- Christoph Tobler, Sefar Holding AG, Thal, category, " Family Business "
- Hans Huber, Honorary President SFS Holding AG, Heerbrugg, category "Master Entrepreneur"
EY Austria
Facts and Figures
EY is one of the leading accounting and consulting organizations in Austria. With around 650 employees in four locations (Vienna, Linz, Salzburg and Klagenfurt), the company achieved a turnover of 82 million euros in fiscal 2012 /2013. Together with the 175,000 employees of the international organization EY EY serves customers all over the world.
In January 1990 emerged from four firms, provides EY Austria both large and medium-sized businesses a comprehensive portfolio of services: audit, tax and transaction advisory services and management consulting.
EY Austria annually presents its own sustainability report. The report provides comprehensive information on the ethical, socially and environmentally relevant activities and projects in all areas of the company.
Since 2006, EY Austria is awarded annually to Austria's top entrepreneurs with the " Entrepreneur Of The Year Award".
Globalization
EMEIA Area
The 87 Ernst & Young's national companies in Europe, Africa, India and the Middle East joined in July 2008 to an operational unit together ( EMEIA = " Europe, Middle East, India & Africa" ). This created an organization that includes over 67,000 employees and a turnover of 9.6 billion U.S. dollars generated (fiscal year 2010). Form Ernst & Young in Germany, Switzerland and Austria within EMEIA the OU GSA (Germany, Switzerland, Austria).
German Business Network
In order to serve German company internationally, is within the Ernst & Young's companies a global network of German employees, the so-called German Business Network ( GBN ). The GBN is represented worldwide in more than 40 countries with 120 contacts.