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Market watchers say no easy way out of conflict-of-interest problems as EY halts break-up plan

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Paige Lim

Paige Lim

Published Thu, Apr 13, 2023 · 05:50 AM
    • Big Four public accounting firm EY has called off a plan to break up its audit and consulting businesses, after resistance from its US branch.
    • Big Four public accounting firm EY has called off a plan to break up its audit and consulting businesses, after resistance from its US branch. PHOTO: REUTERS

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    EY’S HALT of a plan to split its audit and consulting divisions came as no surprise to some in the industry, given the complexities of such a split and the synergies of the combined group.

    But market watchers also noted that conflict-of-interest problems – a motivating factor behind the plan – remain unresolved for the industry.

    On Wednesday morning (Apr 12) Singapore time, EY announced in an internal memo to its partners that it was halting work on the plan after resistance from its United States branch.

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    EYAccountingBig Four auditorsConsultancy

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