EY Europe revamp has partners worried over Wirecard fallout
London/Frankfurt | Accountancy group EY is to centralise power in a new European executive team, pooling resources across the region but raising concerns that any financial hit from the Wirecard scandal might also be shared.
The overhaul breaks from the federated business model of the big four firms in an attempt to cut management costs by half and will authorise the central team to decide on partners’ pay, according to people briefed on the plan.
Financial Times
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