December 11, 2018

E&Y

EY Is In Trouble With the SEC For Lobbying On Behalf of Audit Clients

This just in: The Securities and Exchange Commission today charged Ernst & Young LLP with violations of auditor independence rules that require firms to maintain their objectivity and impartiality with clients. Ernst & Young agreed to pay more than $4 million to settle the charges. The SEC’s order instituting a settled administrative proceeding finds that […]

Ventas Fires EY as Auditor Over Independence Violation

And by “independence violation” we mean “they were probably banging”

Hey Folks, Let’s Help EY Name Their New Audit Tool!

Move over, GAMx, there's a new player in town. Here are the details from our mole on the inside who made sure to point out that "nobody I know of will be participating" (lest this person be associated with such nerdiness): Basically they are rolling out a new audit tool this year which is cloud […]

Here’s Your Open Thread for EY Compensation Discussions (2014)

Yes, we know this is early but the natives are getting restless, as evidenced by our inboxes: EY compensation and promotion talks have began in the NY area We reached out to a friend of GC currently sentenced to 15 to life at EY in NY who could not confirm this: I can’t confirm what […]

EY Got a Bunch of Old White Guys to Talk About Women in the Workplace

Here we go with this crap again:   Top tips from #EY’s male leaders on how to make the gender mix work #BBWW http://t.co/NcZDDKdW4w — EY (@EYnews) July 1, 2014 We get it, change has to come from the top, like Moses on Mount Sinai. But is this really the best way to mark International […]

Retire From EY, Receive a Free Scrapbook of Career Highlights

EY sent out a lovely note regarding some retiring PPEDDs today, although they were so excited to say goodbye they sort of screwed up the first email: In our enthusiasm to congratulate our retiring PPEDDs, we realized that several of the titles listed in the original communication were incorrect. Please disregard and refer to the […]

EY Offers Its Fathers 6 Weeks Paid Paternity Leave, But Do Dads Actually Take It?

We've been on an "inclusiveness" kick lately and I'd apologize for that except Colin told me never apologize therefore I will not. You will recall a previous discussion we had about EY's Inclusiveness Officer (*gag*) boldly shilling to the Huffington Post about dudes' need for flexibility. We're surprised she didn't take the opportunity then to […]

#TBT: That Time Jim Turley Used a World Cup Metaphor to Explain the Need for Global Accounting Standards

What can the World Cup teach us about accounting rules? (Other than rampant corruption is only real if you believe it is.) That it would be chaos if participants showed up to a global contest with their own set of rules. That's sort of what we have going on in global financial reporting, if you […]

EY Now Tracking Staff’s Every Move

As anyone who considers break room snacks a food group knows, it's incredibly easy to put on a few pounds from sitting at your desk for most of your working life. EY has a solution — toys to encourage its staff to get off their asses.   New fitness challenge @ the office! 'On the […]

Promotion Watch ’14: EY Americas Admits 295 New Partners

Not to be outdone by PwC’s addition of 180 partners the other day, EY has internally announced the admission of 295 new partners, 170 new executive directors and 31 new directors. Dang, son, slow it down over there.

The email that went out to EYers was standard congratulations, we are so excited, exclamation point exclamation point blah blah:

This Big 4 Firm Just Ruined Selfies for Everyone

Selfies have always been pretty stupid but we've officially reached Peak Selfie when a Big 4 firm hijacks the whole selfie thing and slaps a hashtag on it. Meet #SelfEY *cringe*  Loving the #SelfEY!Great pic! RT @EvanDaSilva1 46 mins #elpboston #letmetakeaselfEY pic.twitter.com/BAC3Aqi5s9 — EY US Careers (@EY_CareersUS) May 29, 2014 Next time your supervisor asks […]

Working From Home Allows More Time For Working, Says EY Guy

Not content to be left out of the conversation on flextime, EY has jumped right into the fray with a New York Times piece on telecommuting and flexible work arrangements. Let's check in with suburban warrior Jared Dalton: He calls it one of the bright spots of his week: Before Jared Dalton, 32, starts his […]

Bonus Watch ’14: EY Auditors Get a Pat on the Back

We're hearing a couple rumors that the audit practice is giving out free money, anyone else? Some people are understandably skeptical (though obviously aren't familiar with the phrase don't look a gift horse in the mouth): FYI EY leadership awarded all Assurance Staff through Senior Managers $500 in the 5/30 paycheck. Leadership has never issued […]

EY Employees Embarking on Annual Make Passive Aggressive Suggestions for Improvement Ritual

It’s review time! Seeking #feedback from your team throughout the year is an #effective way to stay on track w/your #goals. -Lys #EYTip — Life at EY (@EYstaff) May 6, 2014

EY Is Tackling the Important Issue of Dudes’ Need for Flexibility

Forget women, what about working family men? Apparently they are the forgotten majority who are lost in discussions about work/life balance that include a demanding job and kids. EY partner and "Inclusiveness Officer" Karyn Twaronite recently wrote this piece in HuffPo asking what about the men? Well? What about them? Thankfully, EY's male professionals increasingly […]

A Phone Call From Your Mom Will NOT Help You Land a Big 4 Job

Oh dear God, not this again: Stories abound of millennials showing up in casual clothes for formal interviews, bringing—and using—their phones during the interview and worse. Not only that, in a survey of 22- to 26-year-old college graduates by Adecco, a staffing and recruiting company, 8 percent reported that a parent accompanied them on at […]

Frustrated EY Employee Vandalizes Office Breakroom in Protest Over March Madness Blocking

We're getting word some people are taking March Madness really, really serious, guys: EY Houston asking us to post our brackets in the breakroom I think you should tell us how you really feel.

EY Finally Embraces the Disruptive Technology That is Microsoft Outlook

This is the biggest news to come out of EY! since the big rebranding: To:     US Personnel    March 21, 2014 From:  Xxxxx, Xxxxxxx, Americas Administration Leader       Microsoft Outlook deployment begins in the USI’m very pleased to announce that on April 7, 2014 the US firm will begin migrating to Microsoft Outlook, […]

Someone at EY Didn’t Get the Memo About Coming in This Weekend

Just in case you weren't planning on enjoying the weekend you may not even get a chance to enjoy, EY sent out a friendly reminder on Twitter (just go ahead and twist the knife, guys): It's almost here … #HappyFriday #TGIF #BetterWorkingWorld http://t.co/YbhPJ7CI5b — EY US Careers (@EY_CareersUS) February 28, 2014 Yeeeeaaaahh, I'm gonna need […]

Big 4 Firms Making Necessary March Madness Preparations as Usual

It's that time of year again! No, not busy season, but time for the pre-March Madness reminder from TPTB that company bandwidth should be saved for client service and only client service. EY appears to be first out of the gate with this email that allegedly got sent around this week: As a follow up […]

We Can’t Find a Single Thing to Mock in Mark Weinberger’s LinkedIn Debut

Trust us, we looked. In case you missed it, our CEO & Chairman is now a LinkedIn Influencer. Read his first post here: http://t.co/WdmzLv0TEt via @LinkedInPulse — EY (@EYnews) February 25, 2014 We humbly present the first part of Three Critical Skills Today’s Leaders Need: Which of the following factors can render your business model […]

NY State Is Serious About the Battle with EY Over Lehman Audit Fees

Not so fast, Ernst & Young. You may be able to rebrand and spout off a bunch of feel good hooey about integrity or whatever silly phrase you're using these days but you're gonna need a bigger rug under which to sweep Lehman, guys: A New York state appeals court on Thursday revived the New […]

EY Offers a Fantastic Employee Perk, the Only Problem Is You Won’t See It Until You’re Dead

Of course if an accounting firm were to make a list of "the ten top perks from Best Companies 2014," it would be for money. No, not a bonus. Well, maybe it's considered a bonus if your wife never really liked you that much anyway: E&Y's benefits span beyond the living. If an employee dies […]

If You’re Going to Commit Fraud, Avoid These Obvious Phrases In Your Company Email (Duh)

Our friend and ex Crazy Eddie CFO Sam Antar has a new bug up his criminal ass, and it's EY teaming up with the FBI to combat obvious fraud. Check this out from Compliance Week: What do phrases such as "nobody will find out," "grey area,"and "they owe it to me" have in common? According […]

EY Wishes You the Slowest Holiday EVER

GAH. As bad as the McGladrey card was, at least they got it over with quickly. WHAT IS HAPPENING HERE? Well, that's another 24 seconds that felt like 3 hours I will never get back. (if the Flash embed isn't working for you, you can find the card here. I warn you, though, it's bad. […]

@EYstaff Memorializing Nelson Mandela By Tweeting an Inspirational Quote He Never Actually Said

Call this a public service because you, too, may feel compelled to spread this meme today. Love this quote from #NelsonMandela – What an inspiring man. #RememberingMandela pic.twitter.com/x9UppWY4Xi — Life at EY (@EYstaff) December 6, 2013 Well, there's one indisputable fact here, he was an inspiring man. However, that quote isn't his. [Note: as I […]

An EY Partner Scores a Victory For Creativity From Behind the Lens

This guy right here: Aleksander Poniewierski is a partner and a leader of IT Advisory Services over at EY Poland. EY writes, "[he] sets an excellent example of effective combination of professional career with private life and interests. Aleksander currently sells his photos, distributing money to charities – such as EY Foundation, which supports children […]

Life at EY Just Got Exceptionally Less Boring In One Conference Room

Oh man, sounds like fun, where do I sign up? @EYstaff Meeting! What's on your agenda today? pic.twitter.com/ivH7mipkYx — Life at EY (@EYstaff) December 4, 2013 Oh man, are those even real windows or is this like the Umbrella Corp secret underground lab with simulated outside reality? Protip: if your propaganda account exists solely to […]

EY Still Planning to Settle With Lehman Investors, Also Still in Denial

Back in October, it was reported that EY planned to settle with Lehman Bros investors, subject to court approval (EY's denial notwithstanding): Ernst & Young LLP has agreed to pay $99 million to settle investor class-action allegations that it turned a blind eye when its audit client Lehman Brothers Holdings Inc. misled investors before the […]

You Have Five Minutes with EY’s CEO Mark Weinberger…

Sometimes Life at EY means dreaming of having the big guy all to yourself: What would you say if you had 5 minutes to speak to our CEO, @Mark_Weinberger ? #FoodForThought — Life at EY (@EYstaff) November 25, 2013 Would you bring up the PCAOB inspection stats? Do you give him the full troll treatment […]

EY and KPMG Joining Forces To Create Something Rotten in the State of Denmark

There's something cooking in Denmark, folks, and it smells like a merger that will form the Big 3 1/2: EY Denmark and KPMG Denmark have announced they are to combine operations The proposed agreement between the fellow Big Four members is still subject to regulatory approval. As such both will continue to operate separately for […]

Who Knew EY Was Hiding Decent Artists?

No, not creative financial artists, like art artists. The EY Exhibition – Paul Klee: Making Visible opened at the Tate Modern in London on October 16, 2013 and runs through March 9 2014. Paul Klee famously described drawing as "taking a line for a walk." and in that vein, EY invited their staff and families […]

EY Is Pounding the Pavement for Auditors

Are you in the UK? Are you looking for a career opportunity with a global company? Are you walking on a sidewalk? Great, have we got the campaign for you! If you really think about it, who better to recruit than a bunch of aimless shoegazers?

EY Tops Big 4 Las Vegas Firms in Hindering Its Advisory Business Growth

In this day and age of professional service firm trends, it's strange to see an announcement that highlights the audit business in the lead paragraph:  [On Monday] Ernst & Young LLP’s Las Vegas office celebrates its 10th anniversary. Since its opening here in 2003, it has become the nation’s largest fully integrated gaming and hospitality practice, […]

Ernst & Young, Living in Denial, Settles with Lehman Investors for $99 Million

This is rich. Michael Rapoport reports: Ernst & Young LLP has agreed to pay $99 million to settle investor class-action allegations that it turned a blind eye when its audit client Lehman Brothers Holdings Inc. misled investors before the investment bank's 2008 collapse. The investors and Ernst "have reached an agreement in principle" to settle the […]

EY’s Postmortem Work on the Bank Suing Them Is Not a Conflict, Maybe Just a Little Awkward

As we all know, audits can only do so much. It's entirely reasonable for a large, global firm to miss a few million bucks stashed away somewhere and if the entity being audited just happens to need a government bailout to keep from bringing down the entire economy, well don't blame the auditors. Fair enough. […]

(UPDATE/CORRECTION) Two Ernst & Young Employees Seek Financial Backing for Their Non-flammable Cooking Headwear Business

See update/correction below. I don't watch much TV, so it's no accident that I missed Shark Tank on Friday. Apparently it's a show where people pitch their ideas to Mark Cuban and other people that have names and lots of money from building businesses. I feel like this show has been done before but my […]

Ex-EY Partner Not Getting His Day in Supreme Court

Robert Coplan, one of three former EY partners who were convicted of selling illegal tax shelters that cost the government $2 billion, has had his case rejected by Supreme Court. Coplan's conviction was upheld last November by the U.S. Court of Appeals in New York and he was hoping to challenge one count in front […]

EY Still Has Plenty Room for College Students That Prefer Gainful Employment to Eating Out of a Dumpster

Could someone please notify a certain Bloomberg BusinessWeek editor? Ernst & Young LLP plans to make roughly 10,600 hires in the U.S. during fiscal year 2014, the company told eFinancialCareers. The Big Four accounting firm is looking to recruit 6,300 students while making 4,300 experienced hires during the fiscal year, which began in July. The anticipated […]

EY’s Dan Black Will Not Allow Himself to Be Trolled By Bloomberg Businessweek

Bloomberg Businessweek Associate Editor Louis Lavelle recently spoke to Dan Black, the head of EY recruiting in the US. Instead of pandering to Mr Black — who, admittedly, does plenty of pandering of his own — BB goes straight for the jugular in this interview. Case in point, this hard-hitting question: The College Board recently […]

Early Odds Point to EY as Twitter’s Auditor

We're sure some of you know who the firm is already, but there's nothing out there yet so we'll refrain from calling it official. But! Audit Analytics has some stats on the 248 IPOs since April 2012 that show EY is a big favorite among EGCs since the JOBS Act was passed:  Since April 2012, […]

Let’s Walk Down Memory Lane with Ernst & Young and Lehman Brothers

This week, lots of people are talking about the Lehman Brothers bankruptcy because five years is half of a decade and, well, it was the biggest bankruptcy in U.S. history so that counts for something. Yesterday, we linked to the DealBook story that explains why the SEC threw in the towel and for me, it's one […]

Auditor Market Share for IPOs Offers More Than Enough Consolation for Ernst & Young

Remember this chart from last month? #CPA link: Mo' Money, Mo' Problems: Faulty Big Four audits climb (along with their fees) http://t.co/M57S1ovtX9 pic.twitter.com/4wHa1xmQ9h — Rick Telberg (@CPA_Trendlines) August 15, 2013 Yep, the one where EY!'s deficient audits blast off like rockets into Syria. It's the kind of info that doesn't make any of the new EY! […]

Not Everyone Using the Ernst & Young Men’s Room Is a Stand Up Guy

A top secret "restroom correspondent" at an unnamed EY! location informs us that the following was prominently featured on the lunchroom wall for all of "22 minutes on Friday till the OMP popped by":   EY! Bathroom Etiquette For Feral Males What is it, exactly, with EY! and bathrooms? Apparently some people need to be […]

Ernst & Young’s PCAOB Inspection Results Look Even Worse in Chart Form

Last week, we discussed just how bad EY's auditing had gotten from a PCAOB inspection report perspective. And with a failure rate of 48% we can all say, "That sucks, EY," with the utmost confidence.  Yet, nothing in the PCAOB inspection report or anything we wrote last Tuesday sums things quite like this chart from the […]

Here’s Your Open Thread for EY Compensation Discussions (2013)

The time has finally come for employees of all Black and Yellow stripes to discuss their financial satisfaction (or lack thereof) for this year.  There's seems to have been quite a bit of EY-centered discussions this summer, everything from prolific Twitter accounts to news of a lot fewer audit clients to their PCAOB inspection report that […]

Ernst & Young Staff Has Worked Himself Into Oblivion

How did I miss the EY reference when Kristen Wiig was hosting SNL?!?! Just don't agree that our world is boring haha…http://t.co/Pzcg0I6aWj — Life at EY (@EYstaff) August 7, 2013

Ernst & Young’s PCAOB Inspection Report Results Managed to Get Much Worse

Just yesterday we ran down the 2011 performance of the eight largest public accounting firms in this fair land. And just as soon as people were starting to get their knickers in a twist, the PCAOB released its 2012 inspection report for the firm formerly known as Ernst & Young. And yes, the firm's error […]

Ernst & Young Lost a Lot of Audit Clients Last Quarter

I suppose "a lot" is a relative term, but I think most people would agree that to lose, on average, more than one client per week constitutes "a lot."

Ernst & Young Trusts That Everyone Knows Those ‘Sexy Boys’ Aren’t Building a Better Working World

As you know, earlier this month the accounting firm formerly known as Ernst & Young unveiled a major rebranding. We spoiled things a little bit by breaking the news early, but what no one knew — including, apparently, everyone involved in the makeover — was that there was quite a surprise awaiting anyone who searched Google […]

Jim Turley Bestows Another Rose

After Citigroup announced that Jim Turley would be joining its Board of Directors in order to give it a slightly more credible appearance, St. Louis-based Emerson Electric Co. has managed the good fortune to have JT on their BOD. Turley will serve on the audit, and corporate governance and nominating committee. For those curious, Emerson's […]

It Took a Week for Jim Turley to Find Work

U.S. government parolee, Citigroup, announced today that it's expanding its board of directors to include Gary Reiner, a former CIO at GE, and Jim Turley, EY's beloved former DJ, fashion-forward footwear-er, and Chuck Norris nemesis.  This transition is par for the course when it comes to Big 4 CEO/Chairs, with Tim Flynn and Sharon Allen serving […]

The EY Rebranding Has Gotten More Exposure Than It Bargained For (Slightly NSFW)

It's been an exciting week at EY, what with the rebranding, tagline, Vision 2020 a new CEO and all. It marks the culmination of a lot of hard work on the part of marketing, communications, leadership, web designers, programmers, and countless other professionals to get to this moment. And it appears that at no point […]

The Screaming at EY Has Stopped

Not about the new rebranding, mind you. God, no. They took out a full-page ad in the WSJ for crying out loud. This is a far more important development: Update to ice cream at EY Houston — none has been seen for weeks. The whole thing lasted a few days. Summer of fun, my ass. In […]

Sadly, EY’s Farewell to Jim Turley Has No Mention of a Cake Party

I'm sure EY sent him off in style on Friday, which probably includes a gold watch, a gift card, or something, but there's no mention of any festivities in the internal message that was forwarded to us over the weekend: A special message to US and Canadian Ernst & Young alumni:   We wanted to […]

Here’s the New EY Logo and Tagline You’ve All Been Waiting For

We received a few messages with images over the weekend and there has been little reaction so far, other than "not really digging it." Personally, I'm a fan of brevity and seeing how PwC's big makeover was shocking, EY seems to have made things more sleek without drastically changing their look. We're soliciting feedback from […]

The New EY: A $50 Billion Revenue Goal, Squishy Independence, and Adios to the Ampersand

Nearly three years ago we surprised everyone with the news that PwC was rebranding itself. It was big news for awhile and not everyone liked the new look, but just like a website, eventually people get tired of bitching about the changes and they move on. Shortly thereafter, we highlighted an obscure report from Marketing […]

Ernst & Young Hired Some People

We like to call attention the competitive poaching that goes on behalf of accounting firms because they do such a good job of bombarding the world with that knowledge. It probably got started when we noticed that PwC was using KPMG as its farm teambut more so lately, we've noticed that Ernst & Young aggressively shouting about all the BSDs that are joining the Black and Yellow. 

Let’s Welcome Ernst & Young CEO-elect Mark Weinberger to Twitter, Everybody

M. Dubs broke his Twitter cherry on a Saturday: My congratulations to @hamdiulukaya CEO of @chobani – our World Entrepreneur of the Year 2013! #WEOY — Mark Weinberger (@Mark_Weinberger) June 8, 2013 This is only the second major accounting firm CEO to be on the Twits with ex-Deloitte global chief Jim Quigley being the first. […]

(UPDATE) Summer at Ernst & Young Might Just Be a Tad Sweeter Now

Yesterday, we reported that KPMG was providing ample protein to its partners and employees this summer as a way of saying, "Thanks for all your hard work and not passing material non-public information to someone outside the firm who then used that information to make trades in our audit clients' stock." And for the most […]

Ernst & Young Adds to Its Murderers’ Row of Tax Experts

Ernst & Young has wrestled Jeff VanderWolk away from the Senate Finance Committee where he served as international tax counsel. He'll be an executive director in the National Tax and Americas Tax Center reporting to former assistant treasury secretary for tax policy, Michael Mundaca, according to The Hill. E&Y has been building up its National Tax Practice […]

Promotion Watch ’13: Here’s the Ernst & Young Americas Partner Class for 2013

Welcome back, capital market servants. Hopefully you achieved some combination of suntan/burn, hangover, and meat sweats this past weekend.    Speaking of achievement! Last week while we were all distracted by Memorial Weekend daydreams, Ernst & Young announced their 2013 Partner, Principal, Executive Director, and Director (aka "PPEDD") class for the Americas (this includes North […]

Ernst & Young Latest Big 4 Firm to Have Part II of PCAOB Inspection Report Released

Okay, remind me — there's a saying about "three" and "trend" or "pattern" or something? Forget it, not important. What is important — at least we've made the argument that it is — is that the PCAOB released Part II of Ernst & Young's 2009 inspection report. That makes three out of four Big 4 […]

Ernst & Young Interns Made Fully Aware of Insider Trading’s Pitfalls

With full-time personnel already on notice, E&Y figured any interns not already familiar with insider trading should be made aware that material, non-public information about a client should not be used to trade securities. Nor should you pass it to your golfing buddy, local jeweler, or connection for hard-to-get concert tickets.  A tipster sent us […]

In Light of Current Events, Ernst & Young Reminds All Personnel That Insider Trading Is a Big No-no

Have you or someone you know considered passing some non-public information to anyone who has access to concert tickets and/or is offering a discount on a timepiece and/or envelopes of cash? If so, the ethics and compliance folks at E&Y are asking that you take few minutes to read this quick refresher: Internal memorandum    […]

Please Don’t Celebrate the End of Busy Season By Doing the Harlem Shake

This effort was put forth by a team in the E&Y San Antonio office and if you’re a dancing accountants aficionado, it serves as another opportunity to study technique, enthusiasm, and production quality. It’s fine effort by E&Y Alamo, I suppose. The Darth Vader mask is a nice touch. There’s no random baby in a […]

Depending On How This Gay Court Stuff Goes, Ernst & Young Might Have a Little Extra Pocket Change

According to this recent HuffPo article, a favorable DOMA decision might save a few bucks for big employers like Ernst & Young: After her partner gave birth to triplets in 1998, Chris Crespo began paying closer attention to the employee benefits offered by her company, major accounting firm Ernst & Young. "I wanted to make […]

One Ernst & Young Employee Doesn’t Think It’s Too Early To Get Excited About Four-day Weekends

From the mailbag: Got a voice from Kay Matthews, EY West Sub-Area Managing Partner [last week]. They are giving the employees in the West Sub-Area an extra day off for our "hard work".  The Thursday before the 4 day Memorial Day weekend will be called "West Region Say's Thank You Day".  Woohoo! Once you manage to quit dancing […]

Ernst & Young Will Probably Have Better Than Average Seats for Super Bowl XLVIII

Todd Christie, brother of Chris, is now a director in Ernst & Young's Northeast Practice Market Team. The E&Y press release says that "Christie will direct the firm’s efforts to development new business relationships throughout the New York area." That's a PR way of saying, "We like your big Rolodex." And yes, having a direct connection to […]

The E&Y Spy Story Is Even Weirder Than We Thought

On Monday we shared the story of Express Scripts suing Ernst & Young and one of its former partners, Donald Gravlin, of stealing a bunch of proprietary information from the company's headquarters in St. Louis. The suit went so far to say that the firm and Gravlin had an "evil motive" and "engaged in unlawful and […]

Express Scripts Accuses Ernst & Young Partner of Being the Worst Corporate Spy Ever

Late on Friday, Bloomberg reported that Express Scripts was suing Ernst & Young and a former E&Y partner for "theft of trade secrets and misappropriation of the pharmacy benefit manager’s confidential and proprietary data." Which is really just a very nice of saying "corporate espionage."  And perhaps not surprisingly, the partner in question, Don Gravlin, wasn't […]

Layoffs Watch ’13: Ernst & Young Advisory

Another one bites the dust (via the tip box): There had been some concern among advisory professionals at EY that there could be a downsizing.  It finally happened to me today at the [redated for privacy] office. Told that I appear to have topped out at Sr 3 and would not be promoted this year […]

It Appears Some Ernst & Young Employees Cope with Busy Season by Stress Eating

Maybe 40 Chicken McNuggets is a square meal for some. Or maybe there was a bet involved here. We can't really know the full story, but apparently these were put down the other day:  Lunch time shenanigans, courtesy of 1 of my seniors and a staff…turns out eating 40 chicken nuggets isn't too hard… twitter.com/EYstaff/status… […]

Citing Lotus Notus, Ernst & Young Instructs Employees to Not Upgrade to Blackberry 10

Most large accounting firms have some kind of "News" section included on their internal web sites. Headlines like "Partner Joe Quoted in Today's Wall Street Journal" and "United Way Honors Firm for Being a Strategic Partner for 20 Years" and other shallow announcements are typical. Most partners and employees couldn't care less about these things but […]

Ernst & Young Announces a Competitive Poaching Frenzy; Deloitte, KPMG Among the Losers

Yesterday Ernst & Young announced the addition of six new M&A and PE professionals to its Transaction Advisory Services practice. It appears that all these professionals were special enough to warrant a press release, however, not specialy enough that it warranted their own individual press releases. Undoubtedly this will become a point of ridicule amongst their […]

Here’s an Unconfirmed Account of Ernst & Young’s Flexible Scheduling in Action

If you take the time to poke through the profiles of the accounting firms on this year's FORTUNE 100 Best Companies to Work For, you would find the following under Ernst & Young's "What Makes It So Great?": Flexible scheduling at the accounting firm allows team members to choose one night each week during busy season […]

Developing: Ernst & Young Auditor’s Life Is About to Become a Living Hell

Much like the flu, it's far too early to say how bad this busy season will be. But this particular case doesn't sound good:  We have about 10 days between when the client closes their financials and the earnings release…going to be an intense 10 days… — Life at EY (@EYstaff) January 15, 2013 We'll […]

The SEC Investigation into Ernst & Young’s Lobbying Activities Isn’t Going to Amount to Much

Late yesterday, Sarah Lynch and Dena Aubin at Reuters reported that the SEC was poking around Ernst & Young's lobbying activities on behalf of audit clients. Apparently the investigation has been going on since Reuters first broke the story back in March that the specialized advisory group of Washington Council Ernst & Young was trotting around […]

Will the Foreclosure Settlement Result in Collateral Damage at the Big 4?

Earlier today, a settlement was reached between federal regulators, led by the Office of the Comptroller of the Currency and the Federal Reserve, and ten banks over foreclosure abuses. Over the past week or so, the New York Times has been reporting that a settlement was expected, imminent and today it was announced that the […]

Reports: Brother of Suspected Newtown Shooter Is Ernst & Young Employee

Earlier today, Ryan Lanza was misidentified as the Sandy Hook Elementary school shooter. It has subsequently been learned that his younger brother, Adam Lanza, was the perpetrator. The Ridge-GlenRock Patch reports that Ryan was at work in Manhattan at Ernst & Young when the shooting occurred and that he has been questioned by Hoboken police: Ryan […]

New York Won’t Be Getting Its Mitts on Ernst & Young’s Lehman Brothers Fees

Nice try, Schneiderman. The New York attorney general has no authority to claim $150 million in fees that Ernst & Young earned from Lehman Brothers Holdings in the years leading up to Lehman's collapse in 2008, a judge ruled on Wednesday. The state had sought the fees as part of a lawsuit against Ernst & Young […]

(UPDATE) Canadian Officials Not Impressed with Ernst & Young’s Audits of Sino-Forest

Up until this point, Ernst & Young has seemed perfectly content to see how this Sino-Forest situation (some have called it a "Ponzi scheme") would play out, standing quietly by their audit opinions without so much as a peep*. Canadian regulators, possibly impatient with the radio silence, have decided that they'll open things up, as the Ontario Securities […]

Things Looking Up for Two Ex-Ernst & Young Tax Evasion Specialists; Two Others, Not So Much

For former Ernst & Young lawyers Richard Shapiro and Martin Nissenbaum, things couldn't get much better than a panel of judges overturning the convictions for your roles in selling illegal tax shelters. Their pals Robert Coplan and Brian Vaughn weren't so lucky, however: A three-judge panel of the U.S. Court of Appeals in New York ruled […]

Inability to Access “Let’s Get it On” Station on Hump Day Not Sitting Well with One Ernst & Young Employee

Ernst & Young has long been known to frustrate employees by blocking a certain Internet radio station, but based on this latest message, now they are risking some employees' safety: EY Boston has blocked Pandora this week. The level of anger is INTENSE.  IT people better hide… It's been established that you cannot mess with […]

Maybe Ernst & Young *Can* Save The Global Economy All By Itself

Yeah, there are doubters, but that doesn't mean Black and Yellow isn't going to try like hell to turn this thing around. In addition to the hires in the U.S., E&Y is trying solve employment problems around the world:   Tens of thousands of financial services jobs are going in London according to the CEBR. […]

Here’s Another Ernst & Young Jack-o-lantern That You Didn’t Know You Wanted

Last week, a couple of Big 4 employees wanted to share dual love for their firms and All Hallows' Eve. They expressed this by virtue of the age-old tradition of carving jack-o-lanterns. The two offerings were for PwC and Ernst & Young and each featured the firms' respective logos. Despite the enthusiasm from Bob Moritz, […]

Now We Have an Ernst & Young Jack-o-lantern

Yesterday we learned how you can get into the All Hallow's Eve spirit without dressing up like a paper shredder or Luca Pacioli. A PwC jack-o-lantern is just the thing to get the attention of your friends, neighbors, and, apparently, the boss this Halloween season. While mosWell, someone at Ernst & Young was not impressed.  […]

Layoffs Watch ’12: Ernst & Young

E&Y Down Under is getting into the act, informing a number of people that their services are no longer needed and the word on the street is that some partners may be next: Big Four accounting firm Ernst & Young Australia has retrenched 89 staff amid rumours that partner performance is under review and will […]

PwC Poaches an Ernst & Young Partner and Issues a Press Release, Part I

Let this serve as the inaugural post to the immensely popular sister series: KPMG v. PwC. And while Ernst & Young has been proactively adding talent via competitive poaching from Deloitte and others, to our knowledge Papa Whiskey Charlie and the Black and Yellow have not had any public personnel entanglements until today: Michael Spielman has […]

Here Are Ernst & Young Chargeable Hour Goals for Fiscal Year 2012

Courtesy of a friend of Going Concern, we bring you the bar that Black and Yellow auditors are trying to jump over for the remainder of the fiscal year*. Yes, I'm sure this isn't news to anyone inside Chez Turley, but we felt that it's important that all non-EY auditors know how hard they are […]

UPDATE: Last Night’s Real Emmy Stars: Ernst & Young

I couldn't possibly care less about the Emmy Awards but apparently some people do so let's address the highlights as they pertain to the topic at hand, shall we? First off, the Big Bang Theory cast apparently paid homage to the all-important Ernst & Young accountants in charge of "tabulating the votes, work[ing] with the […]

Ernst & Young Can’t Save The U.S. Economy All By Itself Now, Can It?

Unemployment in the U.S. is a problem. This is known. Many of you are doing your part by not being unemployed. Good work! You're not part of the problem! Unfortunately, the lot of you are not able to hire hundreds upon hundreds of people and that's what we kinda need. Thankfully, professional service firms like, […]

The Best Part of Ernst & Young’s International Intern Leadership Conference Had to Be When Jim Turley Laid Down Some Beats

Remember earlier this month when we showed you some images from the Ernst & Young International Intern Leadership Conference? It illustrated just how E&Y rolls out the black and yellow carpet for its interns from across the globe – charter buses, gorilla hugs, and a dude in a Big Bird Yellow tux.  We've uncovered more […]

Jim Turley Has All Kinds of Reasons for Supporting LGBT Inclusion

Apologies to Chuck Norris, but Jimbo didn't mention anything about pressure from the White House when he discussed his decision to oppose the Boy Scouts of America's policy of excluding gay members and leaders from its organization at the National Gay and Lesbian Chamber of Commerce conference.  From the Windy City Times, in the order that […]

Ernst & Young FSO Will No Longer *Officially* Be Asking Employees to Clock Mandatory Hours

It's been quite the past few days inside Chez Turley with people jumping up and down about their compensation numbers and the firm rolling out a new bonus structure. If that wasn't enough excitement for you, then let the news that the firm's FSO group will officially discontinue the busy season requirement of 55 chargeable […]

Bonus Watch ’13 and Beyond: Ernst & Young Rolls Out Performance Based Bonus Program

As the Black and Yellow comp conversations continue this week, we have some news to share with regards to the firm's bonus structure.  Here's a tip that came in late on Friday:  Advisory across all of the Americas had their "Super Friday" today (which is why no Advisory people have written in with their comp). […]

The Greatest Out of Context Tweet To Come Out of Big 4 Ever

For anyone familiar with EY's impressive social media efforts (including embarrassing interns by posting photos of them posing with gorillas and pimps at IILC on Facebook), the name Dan Black goes hand-in-hand with engagement. The guy's pretty good at what he does which is probably how he's managed to escape criticism on this website for […]

(UPDATE) Compensation Watch ’12: The Wait Is Over at Ernst & Young

Well, it's here. After getting everyone worked up a month ago, this week marks the start of Ernst & Young's compensation sit-downs. We've gotten word that some offices got started yesterday, some are starting today, and some start later this week. There are a number of people that have sent us messages who seem to […]

Ernst & Young Tax Associate Forced to Deal with the Slobs Around Him

We all know that when you're in the throes of busy season, a key to an effective team is having people spend as much time at their desks as possible. When the pressure is on, even spending a few minutes to take in some natural light or fresh air could mean the difference between a […]