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EY

Yesterday

The big winners as scandal forces big four into retreat

Mid-sized firms such as those run by Steve Meyn of PKF, Jamie O’Rourke of RSM and Annabelle Clare of Walshs had their best year on record as clients move away from out-of-favour big players.

  • Updated
  • Edmund Tadros

This Month

EY has the most Australian Olympians at the Paris Games.

Capping big four partnerships would ’cause great disruption’

Two conservative members of an inquiry committee that recommended capping accounting partnerships at 400 said the move would be an “extraordinary intervention” by the government.

  • Edmund Tadros
Former PwC general counsel Meredith Beattie.

Ex-lawyer reveals why internal PwC probe failed to find tax leak

PwC Australia’s former general counsel says her initial investigation into potential breaches of confidentiality by a former partner did not detect problems because partners gave her inadequate evidence to examine.

  • Edmund Tadros
Finance Minister Katy Gallagher.

Labor cuts spending on major consulting firms by $891m over two years

The value of Commonwealth work outsourced to Accenture, Deloitte, EY, KPMG and PWC is down to $1.5 billion since Labor took power in mid-2022.

  • Edmund Tadros
Minister for Women Katy Gallagher says core work includes “developing cabinet submissions, drafting legislation and regulation, and leading policy formulation”.

$500m in Canberra consulting to be slashed

Consulting firms working for Defence, the NDIS and the Tax Office will be hardest hit by a new plan to strip more than $500 million in work from the embattled advisory sector this financial year.

  • Edmund Tadros
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October

Why multitasking can get you sacked

Doing more than one thing at once can be liberating, but some employers say it can also be overwhelming and unproductive.

  • Jemima Kelly
Shadi Kord and Natalie Khoei started their fashion business with $400 and now ship to 190 countries.

The two mates turning Meshki into the Atlassian of fast fashion

Originally a side hustle for founders Natalie Khoei and Shadi Kord, Meshki is now a $120 million business with a prestigious award for its trophy case.

  • Lauren Sams
Revenue at the big four firms was down in 2023-24.

From revenue to partner pay and scalps: Consulting’s bad year revealed

Everything you need to know about how the big four firms fared during the past year, including which firm is now No. 1, how much partners are being paid, and why the firms are all shrinking.

  • Edmund Tadros
Outgoing EY Port Jackson Partners managing directer Byron Pirola and new leader Chris Paxton.

EY’s local strategy division appoints deals veteran as leader

Clients are willing to pay a premium for strategy advisers who are also experienced industry experts, says the new managing partner of EY’s local strategy arm.

  • Edmund Tadros

September

PwC US is cutting staff, while growth is down at Deloitte.

Deloitte global revenue growth slows to 3pc, PwC US cuts staff

Deloitte global revenue growth slows to 3 per cent; PwC US cuts 1800 roles; PwC spin-off Vialto to restructure $2.2 billion in debt

Former EY partner Peter White has been fighting to keep his name secret for more than a year.

Revealed: the former EY partner being sued by the ATO

Peter White allegedly took $700,000 in secret commissions while setting up illegal tax schemes for wealthy clients.

  • Max Mason
Deloitte candidates in the UK will now have to show up in person as part of their interview process.

Deloitte brings back face-to-face UK graduate interviews

The move comes amid pressure from the accounting regulator for firms to clamp down on the potential for cheating in virtual assessments.

  • Simon Foy

August

A Regional Express REX plane at Sydney’s domestic airport.

Labor backs away from Rex bailout, guarantees regional flights

Transport Minister Catherine King says Regional Express customers will not lose money, offering a guarantee that will help the airline keep ticket sales revenue coming in the door.

  • Tom McIlroy and Ayesha de Kretser

KPMG partner income slides 9pc to $650,000

Lower demand for “legacy” consulting services has pushed revenue at KPMG down 3.6 per cent as the big four firm builds its first 20 digital workers.

  • Updated
  • Edmund Tadros
Andrew Greenwood, the former Federal Court judge who is dead serious about creating a conflict free public sector consulting firm.

Spin off public sector consultants: former judge

Former Federal Court judge Andrew Greenwood says Deloitte, EY and KPMG should move their public sector consultants into separate companies to avoid conflict.

  • Edmund Tadros
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EY partner profits down by about 13pc

EY Australia has been hard hit by the sector-wide downturn in demand for advisory services, with revenue and average partner profits falling.

  • Edmund Tadros
EY building.

EY fined $571,000 over audit of group linked to Russian oligarch

The UK accounting regulator hit the accounting firm with the penalty for breaching a fee cap relating to its consulting work for Russian steel company Evraz.

  • Simon Foy

Big four consultants’ ‘land and expand’ strategy hammered by scandals

The big four consulting firms secured about $90 million worth of contract extensions from Canberra last financial year, down from a record $252 million the year before.

  • Ronald Mizen
One consulting firm stands out in a completely unofficial ranking of which has more Australian Olympians at the Paris Games.

One consulting firm has more Olympians than the others

In the hyper-competitive world of big four consulting in Australia, one firm stands out in a completely unofficial ranking of which has more Olympic athletes at the Paris Games.

  • Euan Black
The taxpayer funded rivers of gold flowing to the major consulting firms have slowed markedly.

Big four’s river of gold from taxpayers slashed 50pc

The Department of Defence recorded the biggest fall in spending as Labor cuts the public service’s reliance on outside advice.

  • Ronald Mizen

Original URL: https://www.afr.com/company/ernst---young-1mvi