EY

KPMG’s Re-Audit of Ventas Teaches Us Boning Doesn’t Necessarily Ruin an Audit

Colin buried this in ANR this morning: Health-care real-estate investment trust Ventas Inc. ( VTR ) said a re-audit didn't result in any changes to its financial statements. KPMG LLP audited Ventas's 2012 and 2013 figures after Ventas said in July that it dismissed Ernst & Young "as a result of an inappropriate personal relationship" […]

EY Is No Longer Blocking Sports Websites Just in Time for Football Season

Forget pleasing their audit overlords at the PCAOB, EY focuses on the important stuff according to our tipster: FYI, EY stopped blocking sports websites.  Just in time for fantasy football.  Maybe a good time to make jokes about how this is so important because most employees don't have time to browse the internet away from […]

EY Hits 50% Failure Rate on PCAOB Inspection, Gets a Grade of LOL on AS5

Today, the PCAOB released its latest inspection report on the firm formerly known as Ernst & Young. Now, before we get into that, let's get into a little history because everyone loves history, right? EY boasted an impressive failure rate of 35.7% in 2011, which was followed up by an even more impressive failure rate […]

The Name of EY’s New Audit Tool Implies Audits Belong in the Louvre

As a creative, right-brained type myself, I realized very early on in my time in CPA review that the CPA exam was less a test of knowledge and more a test of a person's left brain to process and spit out information exactly as it was put in. In other words, the exam weeds out […]

This Advice From an EY Leader Should Not Be Taken Literally

Partners, CEOs and chairmen are great for all kinds of wonderful advice — por ejemplo: "be who you really are" — but sometimes the line between good advice and too soon bro is easily crossed. Case in point: "From day one, focus on the relationships you make. Get in there. Be aggressive." #EY's Bob Patton, […]

Sex and Professional Ethics, Round 2

In case you need to be caught up, the controller at Ventas and the audit partner at EY were banging. So Ventas fired their controller, and Ventas fired EY, and EY fired the audit partner. EY also said that putting the sausage in the ham wallet was a flagrant violation of professional standards. Over the […]

This EY Shilling Is Brought to You By Forbes

Forbes — corporate shilling factory and low-grade financial "journalism" disguised as a magazine for rich people — has a new writer. Yes they already have 10,000 bloggers on every subject known to man but they added another. Only it's not a writer, it's a firm and it's not journalism, it's EY corporate speak. Forbes explains […]

EY Going for an Amputation-Free Emmy Awards Again This Year

If you really want to know the winners in advance, it will cost someone at EY their arm.  EY implements numerous precautions to help ensure accuracy and safeguard results until they are announced on stage, including multiple sets of sealed envelopes transported to the ceremony in separate cars, triple-checking all results, keeping control of each […]

EY Compensation Discussions Redux

With one firm's CEO announcing his retirement and another firm taking it on the chin from Ben Lawsky, you'd think most people would be satisfied with the topics of discussion on a Monday morning. Nope! Please move the EY Compensation thread to where people can actually find it and comment on it.  Update is that compensation […]

EY Is Not Against Using the Deloitte LinkedIn Group for Recruiting Purposes

It may not be specifically forbidden in the unspoken Big 4 playbook but I believe it is assumed that firms consider other firms' LinkedIn groups off limits when it comes to spamming for candidates. This guy at EY did not get the memo: Now, the video isn't just an informative short film on, say, ethics […]

Mark Weinberger Is Getting a Little Verklempt at EY’s Intern Party

Aww, they grow up so fast: So proud of our interns … Destined for greatness wherever their journeys lead …. Hope it includes EY, with me….. — Mark Weinberger (@Mark_Weinberger) July 31, 2014 The 'Berg also promised interns in return for their talent (read: souls),  "what I will commit to you, is an exceptional experience […]

Clarifying Sex and Auditor Independence After the EY and Ventas Affair

With all that went down with Ventas and EY1, I needed a little clarification on our independence rules, so I took the initiative to send the following email to the AICPA: Dear AICPA Ethics Hotline, I understand that earlier this month Ernst & Young was fired by Ventas, Inc. due to an inappropriate relationship between […]

Look Out, Here Comes the Intern #SelfEY Parade

Consider yourselves warned: the interns are about to get released into the wild. Yes, it's that time of year again, EY's International Intern Leadership Conference kicks off next week at Disney World and EY is already trying to goad the impressionable youngsters into blowing up Twitter with #SelfEYs:   My employer, #EY (#ErnstandYoung), sent an […]

EY Senior Manager Finds That Work Won’t Do Itself While He’s on Parental Leave

Here we go with this again. EY is really trying to pull out its paternal leave and wave it around in everyone’s faces, aren’t they?

Why Is Everyone So Tight-Lipped on the Ventas EY Audit Partner Situation?

As we found out recently, the engagement partner at EY was (probably, allegedly) banging the (now former) Chief Accounting Officer and Controller at the client (Ventas). Well, we don't know if they were necessarily getting it on at the client's but you get the idea. Due to that "inappropriate personal relationship," Ventas fired EY — […]

Mark Weinberger Can Top Your Best Work-Life Balance Anecdote

When we talk about accounting firm culture, we often talk about the tone at the top. Besides being a really good buzzword that helps HR wonks convince the lowly serfs that The Powers That Be really care about their well-being, it basically means that what's good for the goose is good for the gander. Or, […]

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 […]

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 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.

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 […]

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 […]

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 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 […]

(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 […]

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, […]

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 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 […]

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 […]