EY

Ernst & Young takes the top spot in the league tables of auditing public companies in 2021.

The penalty for cheating on CPA ethics exams and misleading investigators was the largest ever levied by the commission against an accounting firm.

The Big Four firm admitted that dozens of its audit personnel cheated on the ethics portion of the exam, and that it misled regulators probing the misconduct.

Ernst & Young plans to invest $1 billion in next-generation assurance technology for its audit teams around the world to leverage as part of an overall $2.5 billion four-year commitment.

Dealmaking in the consulting world has slowed after a record-setting pace in 2021, but demand for digital expertise along with a shakeup at one of the Big Four accounting firms should keep the deals flowing.

Deloitte is denying a report this week that it plans to spin off its audit practice as a separate entity from its consulting practice as rival Big Four firm Ernst & Young contemplates such a move.

Executives resent the cost and interference of auditors; investors see them as a safety net that is only noticeable when it fails.

The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies.

Ernst & Young is reportedly considering spinning off the auditing side of the firm to deal with growing pressure on the Big Four to avoid conflicts of interest with their consulting practices.

A possible split confronts the problem faced by all breakups: How do you create attractive businesses out of both when one is likely to be seen as inferior?