EY

The Big Four firm announced layoffs of 5% of its staff only days after calling off plans to spin off its consulting practice.

Plus, Nova Technology announces blockchain-powered credit management; and other accounting technology news.

EY's U.S. business is embarking on a $500 million cost-saving program over the next 12 months.

The Big Four firm's U.S. business will instead embark on a $500 million cost-saving program and focus on freeing up capital for investment.

The Big Four firm's top leaders halted a planned breakup of the firm after the U.S. affiliate decided not to take part.

Tax leaders at companies around the world are predicting the number of tax audits will increase by more than a third over the next two years.

The decision is the harshest regulatory consequence yet for the firm since Wirecard's demise almost three years ago.

The organization is making plans for easing multinational companies and government tax authorities into its Pillar Two requirements.

The Big Four firm is pausing its plans to spin off its consulting side as a separate public company as it works to appease warring partner factions.

The breakup of the Big Four accounting firm is "inevitable" due to regulatory and capital return pressure.

The British cybersecurity company has hired the Big Four firm to review "key financial processes."

Ernst & Young added Tallan; De La Hoz, Perez & Barbeito merged in Roy G. Glassberg CPA PA; and DJH Mitten Clarke acquired Novis & Co.

More technical demands are being placed on today's tax department.

The venture capital firm will work with Ernst & Young on some of these audits and will increase budget allocations to help investee companies put governance guardrails in place.

Increasingly, tax functions are turning to the cloud to help with many of their data-processing needs.

EY Chief Executive Officer Carmine Di Sibio said "it's business as usual" when it comes to hiring, with a tight jobs market even as several big firms begin to cut staff.

IAASB adds two new members; Bennett Thrasher promotes seven to partner; and more accounting news.

Audit committees saw plenty of new proposals last year that could turn into final rules in 2023.

From firm splits and the entry of private equity into the field to ESG and the war for talent, these are the biggest developments in tax and accounting over the past 12 months.

The board released its latest inspection reports on Deloitte & Touche, PricewaterhouseCoopers, KPMG and Ernst & Young, plus BDO USA and Grant Thornton.