Other Big 4 accounting firms not taking EY’s lead, will keep auditing and consulting together
Some firms say they “won’t monetise their life’s work”; industry observers believe spun-off consulting divisions may suffer without referrals from auditing arm
Michelle Quah
THE world’s largest public-accounting firms will not be following in the footsteps of their rival, EY, in terms of splitting their auditing and consulting businesses, they told The Business Times (BT).
Industry observers have also said that such a split makes little sense for the rest of the Big 4, because such a separation could end up harming the spun-off consulting businesses – which could lose the work referrals they typically get from their auditing divisions..
EY’s official announcement on Friday (Sep 9) confirmed what the market had been speculating for months: that it would separate into 2 distinct, multidisciplinary organisations.
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